Overview
Margaret M. ("Meg") McConnell is an economist at the Federal Reserve Bank of New York. She is best known, with Gabriel Perez-Quiros, for the paper that documented the Great Moderation — dating the 1984Q1 structural break in U.S. output volatility and tracing it to durable-goods production and inventory behavior.
Key Contributions / Features
- Great Moderation documentation — McConnell–Perez-Quiros (2000): With Gabriel Perez-Quiros, established the 1984Q1 variance break in U.S. GDP growth (a >4× volatility reduction), showed it is a variance rather than mean-dynamics break, localized it to durable goods, and linked it to declining inventory shares. See McConnell-Perez-Quiros (2000) and Great Moderation.
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