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FOMC Learning and Productivity Growth (1985-2003): A Reading of the Record (ICPSR 34709)
The increasingly rapid productivity growth that began in the 1990s was the defining economic event of the decade and a major topic of debate among Federal Reserve policymakers. A key aspect of the debate was the contrast between information contained in aggregate data, which initially suggested little productivity gain, and anecdotal firm-level evidence, which hinted at the productivity acceleration. The authors revisit this debate from the actual FOMC transcripts. Their study illustrates the process by which policymakers filter incoming data to identify changes in underlying fundamental trends.
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Anderson, Richard G., and Kevin L. Kliesen. FOMC Learning and Productivity Growth (1985-2003): A Reading of the Record. ICPSR34709-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2013-06-19. http://doi.org/10.3886/ICPSR34709.v1
Persistent URL: http://doi.org/10.3886/ICPSR34709.v1
Scope of Study
Geographic Coverage: United States
The data are distributed as a Microsoft Excel file, which provides data, tables, and figures used in the publication.
These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigators if further information is desired.
Original ICPSR Release: 2013-06-19
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