• Marcel Wiedmann
Part of the Contributions to Economics book series (CE)


Starting with the ‘Great Moderation’ in the mid-1980s, five phenomena have influenced and characterized economic conditions and financial markets, especially in developed markets: Low and constant inflation rates.1 Strong and persistent money growth and the unprecedented access companies, financial investment firms and ordinary people have to borrowing and foreign exchange.2 Massive increases in world trade, financial globalization and international capital flows.3 Large asset price swings and an increased number of financial crises.4 Reduced output volatility.5


Gross Domestic Product Stock Market Monetary Policy Central Bank Asset Price 
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Copyright information

© Springer-Verlag Berlin Heidelberg 2011

Authors and Affiliations

  1. 1.McKinsey and CompanyStuttgartGermany

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