Structural and cyclical elements in macroeconomics -- a conference sponsored by the Federal Reserve Bank of San Francisco, March 16, 2012
The recent recession and recovery raise important questions about the relative weight of structural and cyclical factors in the economy. This conference explored the extent to which different economic variables behaved in a standard cyclical fashion during this episode or were scarred in a more permanent, structural manner. Both cyclical and structural effects appear evident in the recession, suggesting that some features of the U.S. economy can benefit from stimulatory monetary and fiscal policy, while others are more permanently damaged and unlikely to respond to such policies.
Volume (Year): (2012)
Issue (Month): March ()
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