Edge, Rochelle M.; Laubach, Thomas; Williams, John C. - Federal Reserve Board (Board of Governors of the … - 2004
Shifts in the long-run rate of productivity growth--such as those experienced by the U.S. economy in the 1970s and 1990 … forecasts of long-run productivity growth during the 1970s and 1990s and examine in the context of a dynamic general equilibrium … model the consequences of gradual real-time learning on the responses to shifts in the long-run productivity growth rate. We …
