According to three different papers, the Great Moderation may not be over after all.
(1) Does the Great Recession Really Mean the End of the Great Moderation? By Olivier Coibion and Yuriy Gorodnichenko.
(2) Is the Great Moderation Over? An Empirical Analysis. By Todd E. Clark.
(3) The Great Moderation: What Caused It and Is It Over? By James Morley.