Reading the Stars /

Following the global financial crisis, significant uncertainty has existed around the U.S. economy's steady state equilibrium. This paper uses a factor model to provide a new approach to estimating 'the stars' (i.e. the neutral interest rate, maximum employment, and the level and grow...

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מחבר ראשי: Williams, Peter
מחברים אחרים: Abdih, Yasser, Kopp, Emanuel
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2020.
סדרה:IMF Working Papers; Working Paper ; No. 2020/136
גישה מקוונת:Full text available on IMF
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100 1 |a Williams, Peter. 
245 1 0 |a Reading the Stars /  |c Peter Williams, Yasser Abdih, Emanuel Kopp. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2020. 
300 |a 1 online resource (26 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Following the global financial crisis, significant uncertainty has existed around the U.S. economy's steady state equilibrium. This paper uses a factor model to provide a new approach to estimating 'the stars' (i.e. the neutral interest rate, maximum employment, and the level and growth rate of potential output) that are most consistent with a medium-term equilibrium where inflation converges to the FOMC's two percent target. It is applicable to any country with an inflation targeting central bank. It also explicitly incorporates estimates of the extensive margin of slack in the labor market, which has proven to be an important factor in describing the post-financial crisis landscape. 
538 |a Mode of access: Internet 
700 1 |a Abdih, Yasser. 
700 1 |a Kopp, Emanuel. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2020/136 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2020/136/001.2020.issue-136-en.xml  |z IMF e-Library