The U.S. capacity utilization rate : a new estimation approach / by René Lalonde. : FB3-2/99-14E
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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| Ministère/Organisme | Bank of Canada. |
|---|---|
| Titre | The U.S. capacity utilization rate : a new estimation approach / by René Lalonde. |
| Titre de la série | Working paper1192-543499-14 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Format | Papier |
| Autres formats offerts | Électronique-[Anglais] |
| 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. Bibliography. Résumés en français |
| Information sur la publication | Ottawa - Ontario : Bank of Canada 1999. |
| Reliure | Softcover |
| Description | v, 20p. : graphs, tables ; 28 cm. |
| ISBN | 0-662-28178-0 |
| ISSN | 1192-5434 |
| Numéro de catalogue |
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| Numéro de catalogue du ministère | 99-14 |
| Descripteurs | Inflation Forecasting |
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