San Francisco paper studies effect of crisis on potential output
A working paper, released today (September 28) by the Federal Reserve Bank of San Francisco, said a pre-recession slowdown in underlying technology growth should not be mistaken for a permanent effect of the crisis.
The author, John Fernald, said the slow growth in potential output experienced during recession can be explained by a drop-off in underlying technology growth and "sharply reduced" capital growth.
While capital formation is cyclical, and should rebound with economic recovery, the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
Yellen highlights systemic risks from rise in non-bank lending
Treasury secretary says institutions’ share of credit now exceeds that of banks
Banks should account for Fed facilities in stress tests – Barr
Vice-chair says doing so would help alleviate stigma over using discount window
Energy data is ‘must-have’ for managing credit risk – Elderson
ECB board member calls for real data from energy efficiency certificates instead of proxies
‘The time to prepare is now’ – G7 probes quantum computing risks
Malicious actors may have quantum computers within a decade, expert group says
Clearer guidelines needed for crisis co-operation – FSI report
BIS institute publishes findings from exercise simulating bank failure in Latin America
Nuclear industry says World Bank should resume financing
Industry bodies say Institution should allow nuclear projects to fall under “green bond” taxonomy
Nigeria raises key interest rate to historical high
Rate now stands at 27.25%, despite slight drop in headline inflation last month
Bank of Israel extends credit benefits for war-affected citizens
Three-month extension follows escalation of conflict with Hezbollah