Steadier GDP growth.
Further research demonstrated that the drop in volatility could not be simply traced back to the recent remission in the number and severity of recessions. Therefore, the authors were inclined to suggest that structural, regulatory, and institutional changes have been steadying influences on housing markets, foreign trade, and inventory management. In particular, they feel that improved inventory management, as indicated by such measures as a 33-percent decline in the average lead time for ordering production materials, has allowed firms to react more quickly to unexpected changes in demand.
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|Publication:||Monthly Labor Review|
|Article Type:||Brief Article|
|Date:||Oct 1, 1999|
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