Basu, Susanto; Fernald, John G. - Federal Reserve Bank of San Francisco - 2009
Potential output is an important concept in economics. Policymakers often use a one-sector neoclassical model to think …, at business cycle frequencies, potential output is a smooth series. Discussing these points allows us to discuss a range …FEDERAL RESERVE BANK OF SAN FRANCISCO
WORKING PAPER SERIES
Working Paper 2009-05
http://www.frbsf.org/publications/economics …