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Keywords:Gross domestic product 

Journal Article
Productivity in the Twelfth District

FRBSF Economic Letter

Working Paper
Evaluating McCallum's rule when monetary policy matters

This paper provides new evidence on the usefulness of McCallum's proposed rule for monetary policy. The rule targets nominal GDP using the monetary base as the instrument. We analyze the rule using three very different economic models to see if the rule works well in different environments. Our results suggest that while the rule leads to lower inflation than there has been over the last 30 years, instability problems suggest that the rule should be modified to feed back on the growth rate of nominal GDP rather than the level.
Working Papers , Paper 96-3

Working Paper
What is the U.S. gross investment in intangibles? (At least) one trillion dollars a year!

This paper argues that the rate of intangible investment ? investment in the development and marketing of new products ? accelerated in the wake of the electronics revolution in the 1970s. The paper presents preliminary direct and indirect empirical evidence that US private firms currently invest at least $1 trillion annually in intangibles. This rate of investment roughly equals US gross investment in nonresidential tangible assets. It also suggests that the capital stock of intangibles in the US has an equilibrium market value of at least $5 trillion.
Working Papers , Paper 01-15

Journal Article
New evidence connecting exchange rates to business cycles

Economic Quarterly , Issue Spr , Pages 73-89

Journal Article
What is potential GDP and why does it matter?

One look at recent Congressional Budget Office data shows how much estimates of the output gap can change as time passes.
Economic Synopses

Journal Article
New estimates of the recent growth in potential output

FRBSF Economic Letter

Discussion Paper
Globalization, aggregate productivity, and inflation

This paper investigates the effects of globalization on aggregate productivity, output growth, and inflation. I present a simple two-country, two-good, flexible exchange rate model using Fisher Ideal aggregators to examine changes in the mapping from microeconomic to macroeconomic productivity growth as nations globalize. Advances in industry-specific labor productivity are shown to have potentially a much greater pass-through to aggregate productivity, output, and prices the more open nations are to trade. Globalization raises both the level and growth rate of aggregate productivity by ...
Staff Papers , Issue Mar

Speech
The road to recovery: Brooklyn

Remarks by President Dudley at the Brooklyn Chamber of Commerce Brooklyn Borough Hall, Brooklyn, New York.
Speech , Paper 58

Journal Article
The business cycle and chain-weighted GDP: has our perspective changed?

Our perspective on the U.S. economy's recent performance has been challenged recently by changes in the methodology used to adjust the National Income and Product Accounts for inflation. Michael R. Pakko surveys the changes embodied in the revised data, examining the question of whether or not the revisions alter our view of the overall pattern of economic fluctuations known collectively as the business cycle.
Review , Issue Sep , Pages 39-49

Conference Paper
Historical evidence on business cycles: the international experience

Conference Series ; [Proceedings] , Volume 42 , Issue Jun , Pages 65-119

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Dudley, William 19 items

Motley, Brian 13 items

Strauss, William A. 7 items

Kliesen, Kevin L. 5 items

McConnell, Margaret M. 5 items

Perez-Quiros, Gabriel 5 items

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Gross domestic product 180 items

Inflation (Finance) 34 items

Monetary policy 22 items

Economic conditions 21 items

Recessions 14 items

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