Search Results
Global Perspectives: Tom Luce on Public Service, Education Reform
Luce and Dallas Fed President Rob Kaplan discussed his career in law and public service, his decision to become a lawyer and the key challenges facing the U.S. education system.
As population trends shift, where will future workers come from?
Population is a fundamental determinant of a country’s productive capacity. More specifically, labor, along with capital and the efficiency with which the two can be combined (total factor productivity) determine how much a country can produce at any point in time.
Working Paper
Are deep recessions followed by strong recoveries?
Journal Article
Rolling recessions
Report
Microeconomic Aspects of the Globalization of Inflation: A Joint Conference with the Swiss National Bank
The Globalization and Monetary Policy Institute hosted ?Microeconomic Aspects of the Globalization of Inflation,? a joint conference with the Swiss National Bank on Aug. 19?20 in Zurich. The conference brought together researchers to examine how globalization affects pricing, exploring in greater detail some of the issues raised by Auer and Fischer (2010), as well as to increase understanding of how price dynamics unleashed by globalization affect the measurement of fundamental determinants of improved living standards over time.
Working Paper
Ties That Bind: Estimating the Natural Rate of Interest for Small Open Economies
This paper estimates the natural rate of interest for six small open economies (Australia, Canada, South Korea, Sweden, Switzerland and the U.K.) with a structural New Keynesian model using Bayesian techniques. Our empirical analysis establishes the following four main findings: First, we show that the open economy framework provides a better fit of the data than its closed economy counterpart for the six countries we investigate. Second, we also show that, in all six countries, a Taylor (1993)-type monetary policy rule that tracks the Wicksellian short-term natural rate fits the data better ...
Journal Article
Obstacles to measuring global output gaps
Monetary policymakers pay close attention to levels of resource use. In the past, the focus was largely on domestic slack. Now, some analysts contend the ongoing process of globalization requires policymakers to look at global slack as well.
Not all price increases are equal; pandemic-era outliers drove inflation spike
Many individual price changes make up widely used gauges of inflation. Their relative importance changes over time and may affect how consumers perceive inflation. Such perceptions can prompt households to update their inflation expectations, decreasing optimism about real economic activity.
Global Perspectives: Mike Rawlings on Being Dallas Mayor and the Role of Business in Solving Social Problems
Former Dallas Mayor Mike Rawlings and Dallas Fed President Robert S. Kaplan discussed Rawlings’ decision to run for mayor, his priorities as mayor and the role of business in solving social problems.
Working Paper
Does aggregate output have a unit root?