Owyang, Michael T.; Piger, Jeremy M.; Wall, Howard J. - Federal Reserve Bank of St. Louis - 2007
A number of studies have documented a reduction in aggregate macroeconomic volatility beginning in the early 1980s … of studies have documented a reduction in aggregate macroeconomic volatility
beginning in the early 1980s, i.e., the … single national-level event that is usually considered.
Because the magnitude and timing of states’ structural breaks were …