Brookings Papers on Economic Activity: Fall 2018

Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

Contents:

The European Central Bank’s Monetary Policy during Its First 20 Years
Philipp Hartmann and Frank Smets

Accounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia
Emmanuel Farhi and François Gourio

The Real Effects of Disrupted Credit: Evidence from the Global Financial Crisis
Ben S. Bernanke

The Cyclical Sensitivity in Estimates of Potential Output
Olivier Coibion, Yuriy Gorodnichenko, and Mauricio Ulate

Should the Federal Reserve Regularly Evaluate Its Monetary Policy Framework?
Jeff Fuhrer, Giovanni P. Olivei, Eric S. Rosengren, and Geoffrey M.B. Tootell

Monetary Policy at the Effective Lower Bound: Less Potent? More International? More Sticky?
Kristin Forbes

The Efficacy of Large-Scale Asset Purchases When the Short-Term Interest Rate Is at Its Effective Lower Bound
James D. Hamilton

The Federal Reserve Is Not Very Constrained by the Lower Bound on Nominal Interest Rates
Eric T. Swanson

Comments on Monetary Policy at the Effective Lower Bound
Janet Yellen