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Journal Article
Is there a stable relationship between capacity utilization and inflation?
Many policymakers and financial market participants use the Federal Reserve's industrial capacity utilization rate as an indicator of future changes in inflation. During the past few years, however, the usefulness of the utilization rate as an inflation indicator has come under scrutiny. ; In this article, Kenneth Emery and Chih-Ping Chang examine capacity utilization's power to predict changes in inflation, with a focus on whether the relationship is stable over time. They find that while there was a positive forecasting relationship between capacity utilization and changes in consumer price ...
Working Paper
Inflation and its variability: a note?
Working Paper
The algebra of price stability
Working Paper
The algebra of price stability
Working Paper
The information content of the paper-bill spread
Working Paper
Fisher effects and central bank independence
Journal Article
Investment and housing drive 1994 growth