Great Moderation (original) (raw)
La Gran Moderación fue un concepto con el que los economistas partidarios del modelo de crecimiento de los años 1990 describían lo que percibían como el fin de la (los ciclos económicos de crecimiento, crisis y depresión), que se habría producido gracias al sistema financiero de finales del siglo XX y que tendría carácter permanente. La expresión fue acuñada por , de la Universidad de Harvard. La validez de ese concepto quedó cuestionada con la crisis de 2008, que había comenzado con la quiebra de Lehman Brothers y el pánico financiero de finales de 2007.
| Property | Value |
|---|---|
| dbo:abstract | The Great Moderation is a period in the United States of America starting from the mid-1980s until at least 2007 characterized by the reduction in the volatility of business cycle fluctuations in developed nations compared with the decades before. It is believed to be caused by institutional and structural changes, particularly in central bank policies, in the second half of the twentieth century. Sometime during the mid-1980s major economic variables such as real gross domestic product growth, industrial production, monthly payroll employment and the unemployment rate began to decline in volatility. During this period, growth in price levels dropped substantially whilst hourly compensation continued to increase, and interest rates started to fall. The period also saw a large increase in household net wealth and income, whilst wealth inequality increased along various measures. Ben Bernanke and others in the US Federal Reserve (the Fed) claim that the Great Moderation is primarily due to greater independence of the central banks from political and financial influences which has allowed them to follow macroeconomic stabilisation, by measures such as following the Taylor rule. Additionally, economists believe that information technology and greater flexibility in working practices contributed to increasing macroeconomic stability. The term was coined in 2002 by James Stock and Mark Watson to describe the observed reduction in business cycle volatility. There is a debate pertaining to whether the Great Moderation ended with the late-2000s economic and financial crisis, or if it continued beyond this date with the crisis being an anomaly. (en) La Gran Moderación fue un concepto con el que los economistas partidarios del modelo de crecimiento de los años 1990 describían lo que percibían como el fin de la (los ciclos económicos de crecimiento, crisis y depresión), que se habría producido gracias al sistema financiero de finales del siglo XX y que tendría carácter permanente. La expresión fue acuñada por , de la Universidad de Harvard. La validez de ese concepto quedó cuestionada con la crisis de 2008, que había comenzado con la quiebra de Lehman Brothers y el pánico financiero de finales de 2007. (es) La grande modération est une période de l'histoire économique de l'Occident qui, du milieu des années 1980 jusqu'à la crise financière mondiale de 2007-2008, voit à la fois l'inflation chuter, les taux d'intérêt demeurer faible, et la volatilité du cycle des affaires se réduire. (fr) |
| dbo:thumbnail | wiki-commons:Special:FilePath/TheGreatModeration.png?width=300 |
| dbo:wikiPageExternalLink | http://www.crei.cat/wp-content/uploads/users/pages/gg09aej.pdf https://books.google.com/books%3Fhl=en&lr=lang_en&id=HHbjtB1NVLIC&oi=fnd&pg=PA145&dq=%22Great+Moderation%22&ots=4ewExV1-oa&sig=IR2pkbT4QgKlChNp6ZUpctpMYkg%23v=onepage&q=%22Great%20Moderation%22&f=false https://scholar.google.com/scholar%3Fhl=en&as_sdt=1%2C27&q=%22The+great+moderation%22+&btnG= https://scholar.google.com/scholar%3Foutput=instlink&q=info:Okw5tNr420sJ:scholar.google.com/&hl=en&as_sdt=1,27&scillfp=15059165884277201595&oi=lle https://www.researchgate.net/profile/Peter_Summers/publication/5044021_What_Caused_the_Great_Moderation_Some_Cross_Country_Evidence/links/00b4952e7d1ef9e216000000.pdf https://cadmus.eui.eu/bitstream/handle/1814/13522/MWP_LS_2010_02.pdf%3Fsequence=1&ori |
| dbo:wikiPageID | 15377553 (xsd:integer) |
| dbo:wikiPageLength | 18574 (xsd:nonNegativeInteger) |
| dbo:wikiPageRevisionID | 1114907236 (xsd:integer) |
| dbo:wikiPageWikiLink | dbr:Ben_Bernanke dbr:Developed_country dbr:Hyman_Minsky dbr:John_Quiggin dbr:Richard_Clarida dbr:United_States_of_America dbr:Decoupling_and_re-coupling dbr:Interest_rate dbr:1990s_United_States_boom dbc:1990s_economic_history dbc:1980s_economic_history dbr:Federal_funds_rate dbr:Bank_rate dbc:Business_cycle dbr:Long-Term_Capital_Management dbr:Alan_Greenspan dbr:European_Central_Bank dbr:PIMCO dbr:Goldilocks_economy dbc:2000s_economic_history dbr:James_H._Stock dbr:Taylor_rule dbr:Real_income dbr:Mark_Watson_(economist) dbr:Business_cycle dbr:Great_Depression dbr:Great_Recession dbr:Great_Regression dbr:Gross_domestic_product dbr:Information_technology dbr:New_economy dbr:Volatility_(finance) dbr:Price_level dbr:1951_Accord dbr:Structural_break dbr:US_Federal_Reserve dbr:Board_of_Governors_of_the_Federal_Reserve dbr:2007–2012_global_financial_crisis dbr:File:TheGreatModeration.png |
| dbp:wikiPageUsesTemplate | dbt:Citation_needed dbt:Reflist dbt:Short_description dbt:Financial_bubbles dbt:Financial_crises dbt:Federal_Reserve_System dbt:United_States–Commonwealth_of_Nations_recessions |
| dcterms:subject | dbc:1990s_economic_history dbc:1980s_economic_history dbc:Business_cycle dbc:2000s_economic_history |
| rdfs:comment | La Gran Moderación fue un concepto con el que los economistas partidarios del modelo de crecimiento de los años 1990 describían lo que percibían como el fin de la (los ciclos económicos de crecimiento, crisis y depresión), que se habría producido gracias al sistema financiero de finales del siglo XX y que tendría carácter permanente. La expresión fue acuñada por , de la Universidad de Harvard. La validez de ese concepto quedó cuestionada con la crisis de 2008, que había comenzado con la quiebra de Lehman Brothers y el pánico financiero de finales de 2007. (es) La grande modération est une période de l'histoire économique de l'Occident qui, du milieu des années 1980 jusqu'à la crise financière mondiale de 2007-2008, voit à la fois l'inflation chuter, les taux d'intérêt demeurer faible, et la volatilité du cycle des affaires se réduire. (fr) The Great Moderation is a period in the United States of America starting from the mid-1980s until at least 2007 characterized by the reduction in the volatility of business cycle fluctuations in developed nations compared with the decades before. It is believed to be caused by institutional and structural changes, particularly in central bank policies, in the second half of the twentieth century. (en) |
| rdfs:label | Gran Moderación (es) Great Moderation (en) Grande modération (fr) |
| owl:sameAs | freebase:Great Moderation wikidata:Great Moderation dbpedia-es:Great Moderation dbpedia-fa:Great Moderation dbpedia-fr:Great Moderation https://global.dbpedia.org/id/4kUMC |
| prov:wasDerivedFrom | wikipedia-en:Great_Moderation?oldid=1114907236&ns=0 |
| foaf:depiction | wiki-commons:Special:FilePath/TheGreatModeration.png |
| foaf:isPrimaryTopicOf | wikipedia-en:Great_Moderation |
| is dbo:wikiPageRedirects of | dbr:Great_moderation dbr:The_Great_Moderation |
| is dbo:wikiPageWikiLink of | dbr:List_of_economic_expansions_in_the_United_States dbr:Ben_Bernanke dbr:History_of_macroeconomic_thought dbr:United_States_dollar dbr:Inflation dbr:List_of_recessions_in_the_United_States dbr:1990s dbr:Money_supply dbr:Great_moderation dbr:Nominal_income_target dbr:Global_imbalances dbr:Goldilocks_economy dbr:System_dynamics dbr:AIG_bonus_payments_controversy dbr:Keynesian_economics dbr:Taylor_rule dbr:Technocracy dbr:Rebalancing_investments dbr:Business_cycle dbr:Long_boom dbr:Exorbitant_privilege dbr:Twin_crises dbr:Structural_break dbr:The_Great_Moderation |
| is foaf:primaryTopic of | wikipedia-en:Great_Moderation |
