” policy stance to the Fed's failure to respond appropriately to exceptional rates of total factor productivity growth. We then … show how the Fed, by adhering to a nominal GDP growth rate target, might have succeeded in maintaining such a neutral …

allows increases in measured productivity in response to increases in expenditures via higher search effort from households … utilization and fixed costs to generate procyclical productivity, firms do not have to spend more to achieve it. We estimate the …

This paper studies monetary policy strategies under endogenous technology dynamics and low r. Endogenous growth … support productivity-improving investment in R&D and technology adoption and hence the long-run trend path, provided that the … with productivity dynamics. As a result, additional stimulus is required at the ELB and the degree of subsequent …

consumption-wealth ratio, and welfare should be greater in an open economy because of higher productivity and/or less volatility … because of risk sharing. The theoretical results for the growth rate depend on differences in productivity and in consumption … the size of government and on other key economic variables, including the consumption-wealth ratio, the growth rate of …

productivity growth, i.e. bad times, "increase the political support for more labor market rigidity only where labor appropriates … labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves ….e. unexpected changes in the drift and standard deviation of the stochastic process describing the dynamics of productivity, depends …

-wealth ratio, and welfare should be higher in an open economy due to a higher productivity and/or less volatility through risk … as the consumption-wealth ratio, the growth rate of wealth, and welfare, in a two-country world, based on a portfolio … sharing. The theoretical results for the growth rate depend on differences on productivities and consumption-wealth ratios …