Sentences with phrase «equilibrium real funds»

3 See James D. Hamilton, Ethan S. Harris, Jan Hatzius, and Kenneth D. West (2015), The Equilibrium Real Funds Rate: Past, Present and Future, working paper for U.S. Monetary Policy Forum, August.

«The Equilibrium Real Funds Rate: Past, Present, and Future.»

Not exact matches

But the prescription offered by the Taylor rule changes significantly if one instead assumes, as I do, that appreciable slack still remains in the labor market, and that the economy's equilibrium real federal funds rate — that is, the real rate consistent with the economy achieving maximum employment and price stability over the medium term — is currently quite low by historical standards.

With respect to the real economy equilibrium, readings of the output gap, borrowing costs relative to growth, and the forward path of real Fed Funds relative to labor force growth, all exhibit a real - economy state of affairs that is very close to what we would consider «normal.»