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FRBSF Economic Letter: Growth Accounting, Potential Output, and the Current Recession (2009-26, 8/17/2009)
frbsf.org - 8/18/2009
FRBSF Economic Letter: Growth Accounting, Potential Output, and the Current Recession (2009-26, 8/17/2009)
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An important question facing policymakers is how much slack the economy has. One interpretation of the surge in inflation in the 1970s is that the Federal Reserve overestimated the level of potential output and, hence, thought the economy had a lot more slack than it actually did (Orphanides ...

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Econbrowser:  A Utilization-adjusted Measure of Productivity: Implications for the Output Gap

Economist's View:  links for 2009-08-18

macroblog:  How fast can the economy grow?

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A Utilization-adjusted Measure of Productivity: Implications for the Output Gap
Econbrowser — ... This Economic Letter looks at potential output from the perspective of growth accounting, which assesses some of the key supply-side factors determining sustainable, noninflationary potential output. Perhaps most importantly, we find that the underlying pace of efficiency improvements -- "technological progress," broadly construed—has remained strong during the recession. This strength offers a reason for cautious optimism about potential output and the long-term health of the American economy. More immediately, stronger potential relative to the same observed output implies ...

links for 2009-08-18
Economist's View — ... Five simple principles for scaling up in aid - Bill Easterly Growth Accounting, Potential Output, and the Current Recession - FRBSF Economic Letter ...

How fast can the economy grow?
macroblog — ... Update: The San Francisco Fed's John Fernald and Kyle Matoba offer some related thoughts in the newest edition of the Bank's Economic Letter ( ...

links for 2009-08-22
J. Bradford DeLong's Grasping Reality with All Eight Tentacles — ... Steve Benen: Context Matters, Even with Reagan John Fernald and Kyle Matoba: Growth Accounting, Potential Output, and the Current Recession ...

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