FOMC Learning and Productivity Growth (1985-2003): A Reading of the Record (ICPSR 34709)

Version Date: Jun 19, 2013

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Principal Investigator(s):
Richard G. Anderson, Federal Reserve Bank of St. Louis; Kevin L. Kliesen, Federal Reserve Bank of St. Louis

https://doi.org/10.3886/ICPSR34709.v1

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Summary

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.

Citation

Anderson, Richard G., and Kliesen, Kevin L. FOMC Learning and Productivity Growth (1985-2003): A Reading of the Record. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2013-06-19. https://doi.org/10.3886/ICPSR34709.v1

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Subject Terms

Geographic Coverage

Distributor(s)

Inter-university Consortium for Political and Social Research
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Time Period(s)

1977 -- 2002

Data Collection Notes

  1. The data are distributed as a Microsoft Excel file, which provides data, tables, and figures used in the publication.

  2. 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.

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Original Release Date

2013-06-19

Version History

2018-02-15 The citation of this study may have changed due to the new version control system that has been implemented. The previous citation was:
  • 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
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Notes

  • These data are flagged as replication datasets and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

  • The public-use data files in this collection are available for access by the general public. Access does not require affiliation with an ICPSR member institution.