Location of Repository

September 2003 Productivity, Monetary Policy, and Financial Indicators

By Arturo Estrella and Jel Codes O


Abstract: Labor productivity is frequently thought to be informative with regard to inflation and it is often mentioned in discussions about the conduct of monetary policy. However, productivity growth – a mixture of low frequency trends, cyclical movements and short-term noise – is very volatile therefore difficult to interpret in real time. This paper considers why it may be helpful to keep track of productivity for monetary policy purposes and examines the possible use of financial indicators to get information about cyclical fluctuations in productivity growth in real time. Presented at the BIS economists ’ meeting on “Investigating the relationship between th

Year: 2011
OAI identifier: oai:CiteSeerX.psu:
Provided by: CiteSeerX
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • http://citeseerx.ist.psu.edu/v... (external link)
  • http://www.ny.frb.org/research... (external link)
  • Suggested articles

    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.