7 And, while we still see the level of employment rising and falling over the business cycle, the gross flows of people between jobs and of jobs across firms that underlie the observed aggregate changes have fallen over the past 15 years. At this point, we do not have a full understanding of the factors contributing to the decline in labor market dynamism.
Recent events have reinforced the possible adverse impact of their risks. Further, it is commonly observed at the global level that hedge funds are “opaque” – that is, information about their portfolios is typically limited and infrequently provided.