In this article, we provide new, novel evidence for a more recent structural break (in 2010) indicating a greater moderation of output volatility compared to the well-known break during the mid-1980s. The period of analysis runs from 1962Q2 to 2018Q3. It covers 26 OECD countries. In terms of...

We investigate the ability of workhorse structural change models in accounting for the business cycle properties of an economy. We consider three different preferences specifications: Herrendorf, Rogerson and Valentinyi (2014, HRV), Boppart (2014), and Comin, Lashkari and Mestieri (2021, CLM),...