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...

Society of American Business Editors and Writers Fall Conference, City University of New York (CUNY) Graduate School of Journalism. New York, NY. President Charles Plosser gives his views on the regional and national economy and discusses why he remains optimistic about the economic outlook. He...

Lehigh Valley Partnership and Lehigh Valley Economic Development Corporation. Allentown, PA. President Charles Plosser gives his views on the regional and national economy and discusses why he remains optimistic about the economic outlook. He also shares his thoughts about monetary policy and...

The authors study the effects of changes in uncertainty about future fiscal policy on aggregate economic activity. Fiscal deficits and public debt have risen sharply in the wake of the financial crisis. While these developments make fiscal consolidation inevitable, there is considerable...