101257 20210902121630.0 doi 10.1093/oep/gpz030 sideral 118012 ART-2020-118012 eng Gadea, María Dolores Universidad de Zaragoza (orcid)0000-0001-6609-4247 The decline in volatility in the US economy. A historical perspective 2020 Access copy available to the general public Unrestricted In this paper, we analyse the volatility of US GDP growth using quarterly series starting in 1875. We find structural breaks in volatility at the end of World War II and at the beginning of the Great Moderation period. We show that the Great Moderation volatility reduction is only linked to changes in expansions, whereas that after World War II is due to changes in both expansions and recessions. We also propose several methodologies to date the US business cycle in this long period. We find that taking volatility into account improves the characterization of the business cycle. info:eu-repo/grantAgreement/ES/MICINN/ECO2017-83255-C3-1-P info:eu-repo/grantAgreement/ES/MINEIC/ECO2017-83255-C3-3-P info:eu-repo/semantics/openAccess All rights reserved http://www.europeana.eu/rights/rr-f/ 1.29 2020 ECONOMICS 264 / 376 = 0.702 2020 Q3 T3 0.68 2020 Economics and Econometrics 2020 Q2 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Gómez-Loscos, Ana Pérez-Quirós, Gabriel 4008 225 Universidad de Zaragoza Dpto. Estruc.Hª Econ.y Eco.Pb. Área Economía Aplicada 72, 1 (2020), 101-123 Oxf. Econ. Pap. Oxford Economic Papers 0030-7653 1032261 http://zaguan.unizar.es/record/101257/files/texto_completo.pdf Postprint 1241525 http://zaguan.unizar.es/record/101257/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:101257 articulos driver 2021-09-02-08:52:18 ARTICLE