The U.S. capacity utilization rate : a new estimation approach / by René Lalonde. : FB3-2/99-14E-PDF

The recent strength of the U.S. economy and historically low rates of inflation have sparked considerable debate among economists and Federal Reserve officials. In order to better explain the recent behaviour of inflation, some observers have raised the concept of a non-accelerating inflation capacity utilization rate (NAICU). In this study, the author presents a new methodology to estimate the NAICO. A simple structural vector autoregression, including industrial production, the inflation rate, and the long-run real interest rate, is used to identify production capacity.--Abstract

Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.571698&sl=0

Publication information
Department/Agency Bank of Canada.
Title The U.S. capacity utilization rate : a new estimation approach / by René Lalonde.
Series title Bank of Canada working paper1701-939799-14
Publication type Series - View Master Record
Language [English]
Format Electronic
Electronic document
Other formats Paper-[English]
Note(s) "The recent strength of the U.S. economy and historically low rates of inflation have sparked considerable debate among economists and Federal Reserve officials. In order to better explain the recent behaviour of inflation, some observers have raised the concept of a non-accelerating inflation capacity utilization rate (NAICU). In this study, the author presents a new methodology to estimate the NAICO. A simple structural vector autoregression, including industrial production, the inflation rate, and the long-run real interest rate, is used to identify production capacity."--Abstract.
The catalogue number (FB3-2/99-14E), ISBN (0-662-28178-0), and ISSN (1192-5434) for the print edition have been incorrectly copied in this electronic publication.
Bibliography.
Résumé en français.
Publishing information Ottawa - Ontario : Bank of Canada September 1999.
Description 27p.graphs, tables
ISSN 1701-9397
Catalogue number
  • FB3-2/99-14E-PDF
Subject terms Inflation
Forecasting
Request alternate formats
To request an alternate format of a publication, complete the Government of Canada Publications email form. Use the form’s “question or comment” field to specify the requested publication.
Date modified: