Thursday, August 22, 2013

A Preview from Jackson Hole

The Kansas City Fed's Jackson Hole Conference kicks off its working sessions tomorrow with this item,
 “The Natural Rate of Interest, Financial Crises and the Zero Lower Bound,” presented by Robert E. Hall, Stanford University
Discussant: Hyun Song Shin, professor, Princeton University (my economist 
Professor Hall has presented on these issues before.  Here's a link to a 2011 paper, "The Long Slump," in which he starts thinking about the interest rate as a key mediating factor. Professor Hall has extended this framework to the ZLB in some recent slide presentations.

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