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
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| 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 |
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| Subject terms | Inflation Forecasting |
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