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May/June 1997, 
Vol. 79, No. 3
Posted 1997-05-01

Measuring and Analyzing Aggregate Fluctuations: The Importance of Building From Microeconomic Evidence

by John C. Haltiwanger

The author discusses how it is becoming increasingly apparent that changes in the key macro aggregates at cyclical and secular frequencies are best understood by tracking the evolution of the cross-sectional distribution of activity and changes at the micro level.