27 - Claudio Borio on Financial Stability, the Triffin Dilemma, and International Monetary Policy
Macro Musings with David Beckworth
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Is the Natural Rate Embedded in the Productivity Growth Rate?
Since two thousand eight and we've been in the slump, larry summers has his explanation for it. Am one thing we haven't had since two thousand nd eight is rapid productivity growth. So i'm having a hard time under anding, you know, what is there? Are we creating financial balances? Others measures would say they are not. But one thing that does seem clear to me is that productivity is isn't booming,. And therefore not ry creating that stabilizing row maybe that it did prior to the crisis. The bast causes long term economic damage, including, by the way, persistent low productivity grows.
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