Antonio Fatás on Hysteresis and the Business Cycle
Macro Musings with David Beckworth
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How to Run the Economy Hotter
Antonio Fataz: How does a policymaker know they are running the economy hot? He says we should be humble and honest that we don't know much about where potential output is. The central bank does not really have a strong theory of inflation, so it's important to try out new things in order to see what works best for the U.S., he says.
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