This paper analyses the recent productivity slowdown, attempting to distinguish permanent from cyclical changes. It then considers the implications for anti-inflationary policies, discussing the short-run effects of more restrictive policies as well as the prospects for reducing inflation in the medium term.
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Paper provided by Bank for International Settlements in its series BIS Working Papers with number
8.
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Robert H. Rasche & John A. Tatom, 1977.
"Energy resources and potential GNP,"
Review,
Federal Reserve Bank of St. Louis, issue Jun, pages 10-24.
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