Mises Wire
Author:
John P. Cochran
Online Publish Date:
The question has come up whether business cycles are more or less severe, and the economy more or less volitile, today than in the past. The most recent National Economic Trends from the St. Louis Fed provides evidence for a decline in volatility post 1962. Cited is a study by Stock and Watson (”Has the Business Cycle Changed and Why?” NBER