@article {463476, title = {The Great Diversification and Its Undoing}, journal = {American Economic Review}, volume = {103}, number = {5}, year = {2013}, pages = {1697-1727}, abstract = {We propose an account of the movement of GDP volatility in the past 50 years, including the great moderation and its undoing.}, author = {Carvalho, V and X. Gabaix} }