The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge

Name: The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge
Author: Selgin, G., Beckworth, D., Bahadır, Berrak

İsim	The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge
Yazar	Selgin, G., Beckworth, D., Bahadır, Berrak
Basım Tarihi:	2015-03
Basım Yeri	- Elsevier
Konu	Productivity, Neutral interest rate, Output gap, Business cycle
Tür	Süreli Yayın
Dil	İngilizce
Dijital	Evet
Yazma	Hayır
Kütüphane:	Özyeğin Üniversitesi
Demirbaş Numarası	0161-8938
Kayıt Numarası	bd37bb06-dbf0-472a-b6da-b7788d282843
Lokasyon	Economics
Tarih	2015-03
Örnek Metin	It is widely believed that, in the wake of the dot.com crash, the Fed kept the federal funds target rate too low for too long, inadvertently contributing to the subprime boom. We attribute this and other Fed departures from a “neutral” policy stance to the Fed's failure to respond appropriately to exceptional rates of total factor productivity growth. We then show how the Fed, by adhering to a nominal GDP growth rate target, might have succeeded in maintaining such a neutral stance.
DOI	10.1016/j.jpolmod.2015.02.005
Cilt	37

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The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge

Yazar Selgin, G., Beckworth, D., Bahadır, Berrak

Basım Tarihi 2015-03

Basım Yeri - Elsevier

Konu Productivity, Neutral interest rate, Output gap, Business cycle

Tür Süreli Yayın

Dil İngilizce

Dijital Evet

Yazma Hayır

Kütüphane Özyeğin Üniversitesi

Demirbaş Numarası 0161-8938

Kayıt Numarası bd37bb06-dbf0-472a-b6da-b7788d282843

Lokasyon Economics

Tarih 2015-03

Örnek Metin It is widely believed that, in the wake of the dot.com crash, the Fed kept the federal funds target rate too low for too long, inadvertently contributing to the subprime boom. We attribute this and other Fed departures from a “neutral” policy stance to the Fed's failure to respond appropriately to exceptional rates of total factor productivity growth. We then show how the Fed, by adhering to a nominal GDP growth rate target, might have succeeded in maintaining such a neutral stance.

DOI 10.1016/j.jpolmod.2015.02.005

Cilt 37