Laurence Meyer
Laurence Meyer
Laurence Meyeris an economist and was a United States Federal Reserve System governor from June 1996 to January 2002...
challenge likely mistakes policy time
The challenge is in making day-to-day policy at a time when mistakes are most likely to be made.
close committee continues focus given indication policy removal
The Committee continues to see the removal of accommodation as the focus of policy and has given no indication that it is close to the end of that process,
difference disaster energy
The difference with this disaster is that we have an energy shock.
fundamentals demand limits
The Broader interpretation that often seems to underlie the new economy label is that we are witnessing a more fundamental change in the paradigm. The old rules no longer apply. Throw out the NAIRU. Heck, throw out supply and demand. No limits, no business cycles.
communication technology two
There are broader and narrower definitions of the new economy. The narrow version defines the new economy in terms of two principal developments: first, an increase in the economy's maximum sustainable growth rate and, second, the spread and increasing importance of information and communications technology.
answers where-you-live economy
So, is there a "new economy?" The answer is: It depends. It depends on how you define new economy, and it depends on where you live.
communication technology opportunity
I accept the proposition that there has been a significant improvement in underlying productivity growth in the United States, that it is very closely tied to improvements in information and communications technology, and that it is likely to spread around the world. But I resist the new economy label because it seems to encourage a disrespect for the old rules that could seriously undermine our success in taking advantage of the new opportunities.