The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge
dc.contributor.author | Selgin, G. | |
dc.contributor.author | Beckworth, D. | |
dc.contributor.author | Bahadır, Berrak | |
dc.date.accessioned | 2015-10-23T11:11:00Z | |
dc.date.available | 2015-10-23T11:11:00Z | |
dc.date.issued | 2015-03 | |
dc.identifier.issn | 0161-8938 | |
dc.identifier.uri | http://hdl.handle.net/10679/959 | |
dc.identifier.uri | http://www.sciencedirect.com/science/article/pii/S0161893815000277 | |
dc.description.abstract | 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. | en_US |
dc.language.iso | eng | en_US |
dc.publisher | Elsevier | en_US |
dc.relation.ispartof | Journal of Policy Modeling | |
dc.rights | openAccess | |
dc.title | The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge | en_US |
dc.type | Article | en_US |
dc.description.version | pre-print | |
dc.peerreviewed | yes | en_US |
dc.publicationstatus | published | en_US |
dc.contributor.department | Özyeğin University | |
dc.contributor.authorID | (ORCID & YÖK ID 234939) Bahadır, Berrak | |
dc.contributor.ozuauthor | Bahadır, Berrak | |
dc.identifier.volume | 37 | |
dc.identifier.issue | 2 | |
dc.identifier.startpage | 189 | |
dc.identifier.endpage | 207 | |
dc.identifier.wos | WOS:000353871500002 | |
dc.identifier.doi | 10.1016/j.jpolmod.2015.02.005 | |
dc.subject.keywords | Productivity | en_US |
dc.subject.keywords | Neutral interest rate | en_US |
dc.subject.keywords | Output gap | en_US |
dc.subject.keywords | Business cycle | en_US |
dc.identifier.scopus | SCOPUS:2-s2.0-84926331465 | |
dc.contributor.authorFemale | 1 | |
dc.relation.publicationcategory | Article - International Refereed Journal - Institutional Academic Staff |
Files in this item
This item appears in the following Collection(s)
Share this page