Bezemer, Dirk; Grydaki, Maria - Volkswirtschaftliche Fakultät, … - 2013
During the Great Moderation, borrowing by the U.S. nonfinancial sector structurally exceeded GDP growth. Using flow …-1978 (before the Great Moderation) and 1984-2008 (during the Great Moderation). We so test whether the relation between excess … the Great Moderation. We discuss implications. …