Add to ORKGsecret that the performance of the U. S. economy was far from satisfactory in the ’70s. For example, real GNP rose at a 3.1 percent average annual rate from 1969 to 1979 compared with a 4.2 percent aver-age annual rate of growth in the ’60s. Besides lower real growth, the economy experienced two recessions in the ‘70s, in 1970 and 1974, and another in 1980, compared with only one in the ‘60s, in 1960. In addition, the 1974 recession was the most severe since the ’30s. So not only has the U. S. economy sustained lower average growth, but it has also suffered greater instability as well in the ’70s compared with the ’60s. These output statistics are even more disturbing when one notes that civilian employment grew at a faster 2.1 percent rate...
trough of the worst recession of the postwar period. During the next twenty-four months, the unemplo...
We study the hypothesis that misperceptions of trend productivity growth during the onset of the pro...
We develop an estimated model of the US economy in which agents form expectations by continually upd...
is generally viewed as the most dramatic failure of macroeconomic policy in the United States since ...
Business cycles ; Economic conditions - United States ; Econometric models ; Gross national product ...
Ten years ago macroeconomists began noticing and studying a remarkable change in the performance of ...
Overall, the American economy in the late 1980s looks upbeat. But American business and labor still...
TWO THOUSAND AND SEVEN may seem an odd moment to question what we know about monetary policy. The pa...
An accurate measure of economic slack is key to properly calibrate monetary policy. Two traditional ...
The paper re-examines whether the Federal Reserve’s monetary policy was a source of instability duri...
(GDP) slowed to only 2.5 percent per year. From 1989 through the first half of 1992, growth has slow...
Since the election of President Reagan in November 1980, the inflation rate has declined from the 10...
Favorable conditions existed for world economic growth during the 1980s and early 1990s. Yet real G...
We develop an estimated model of the U.S. economy in which agents form expectations by continually u...
Can U.S. monetary policy in the 1970s be described by a stabilizing Taylor rule with a two percent i...
trough of the worst recession of the postwar period. During the next twenty-four months, the unemplo...
We study the hypothesis that misperceptions of trend productivity growth during the onset of the pro...
We develop an estimated model of the US economy in which agents form expectations by continually upd...
is generally viewed as the most dramatic failure of macroeconomic policy in the United States since ...
Business cycles ; Economic conditions - United States ; Econometric models ; Gross national product ...
Ten years ago macroeconomists began noticing and studying a remarkable change in the performance of ...
Overall, the American economy in the late 1980s looks upbeat. But American business and labor still...
TWO THOUSAND AND SEVEN may seem an odd moment to question what we know about monetary policy. The pa...
An accurate measure of economic slack is key to properly calibrate monetary policy. Two traditional ...
The paper re-examines whether the Federal Reserve’s monetary policy was a source of instability duri...
(GDP) slowed to only 2.5 percent per year. From 1989 through the first half of 1992, growth has slow...
Since the election of President Reagan in November 1980, the inflation rate has declined from the 10...
Favorable conditions existed for world economic growth during the 1980s and early 1990s. Yet real G...
We develop an estimated model of the U.S. economy in which agents form expectations by continually u...
Can U.S. monetary policy in the 1970s be described by a stabilizing Taylor rule with a two percent i...
trough of the worst recession of the postwar period. During the next twenty-four months, the unemplo...
We study the hypothesis that misperceptions of trend productivity growth during the onset of the pro...
We develop an estimated model of the US economy in which agents form expectations by continually upd...