All Items by Stephen D. Oliner
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The answer depends on information technology, along with sensible policy actions.
Given the slow growth of labor productivity in recent years, some have argued that the boost from information technology may have run its course. Our analysis points to a less pessimistic conclusion. While projections of economic developments are always difficult, our judgment is that "No, the IT revolution is not over."
Productivity growth in the United States has been anemic since 2004. While analysts expect a modest pickup in productivity growth, the United States likely will be a slow-growth economy for some time.
The aftermath of the 2008 financial crisis has been an extraordinary period in monetary and fiscal policy in the United States and around the world.
The authors respond to Agca and Mozumdar's critique of their research on the sensitivity of firm-level investment to cash flow.
The new research described in this Letter provides the first comprehensive estimate of how long it takes to plan commercial real estate projects in the United States. The results show that planning times are long, have increased over time, and are influenced by the local regulatory environment.
The final lap of the Bernanke era at the Fed has begun.
