The Neutral Rate and the Summary of Economic Projections

Michelle Bongard and Benjamin K. Johannsen
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Benjamin K. Johannsen: https://www.federalreserve.gov/econres/benjamin-k-johannsen.htm

No 2016-11-28, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This note uses information provided in the quarterly Summary of Economic Projections (SEP) of FOMC meeting participants to extract estimates of the neutral federal funds rate--defined as the value of the federal funds rate that is "neither expansionary nor contractionary if the economy were operating near its potential"--in the short and longer run.

Date: 2016-11-28
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2016-11-28

DOI: 10.17016/2380-7172.1890

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