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- W2057863742 abstract "It is widely believed that, in the wake of the dot.com crash, the Fed kept the federal funds target rate too low for too long, inadvertently contributing to the subprime boom. We attribute this and other Fed departures from a 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 stance." @default.
- W2057863742 created "2016-06-24" @default.
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- W2057863742 date "2011-01-01" @default.
- W2057863742 modified "2023-09-26" @default.
- W2057863742 title "The Productivity Gap: Productivity Surges as a Source of Monetary Excess" @default.
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- W2057863742 doi "https://doi.org/10.2139/ssrn.1966659" @default.
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