What Caused the Great Moderation? Some Cross-Country Evidence

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Slapped in the Face by the Invisible Hand: Banking and the Panic of 2007 (2009, background): “For a survey of some of the empirical evidence, see Summers (2005).”
The Great Moderation, the Great Excess and the global housing crisis (2015, background): “It is considered to have started in the US in 1984 and somewhat earlier or later in other western countries (e.g. Summers, 2005).”
Oil and the Great Moderation (2010, background): “Explanations of good luck in particular often give smaller oil shocks as an example (e.g., Summers, 2005).6 Our framework allows us to separate oil from non-oil factors, while nesting the better policy and smaller non-oil shocks explanations.”
Countercyclical Restructuring and Jobless Recoveries (2012, methodology): “Second, the Great Moderation was a global phenomenon: it occurred in every G-7 country (Summers, 2005).”
Explaining and Forecasting Bond Risk Premiums (2010, background): “, the rate of output growth and the rate of employment in the G–7 countries since the mid-1980s) is a welldocumented fact that has found an effective summary in the expression great moderation (Stock and Watson 2003; Bernanke 2004; Summers 2005).”