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 SmetsAccounting for Macro-Finance Trends: Market Power, Intangibles, and Risk Premia, Emmanuel Farhi and François GourioThe Real Effects of Disrupted Credit: Evidence from the Global Financial Crisis, Ben S. BernankeThe Cyclical Sensitivity in Estimates of Potential Output, Olivier Coibion, Yuriy Gorodnichenko, and Mauricio UlateShould the Federal Reserve Regularly Evaluate Its Monetary Policy Framework?, Jeff Fuhrer, Giovanni P. Olivei, Eric S. Rosengren, and Geoffrey M.B. TootellMonetary Policy at the Effective Lower Bound: Less Potent? More International? More Sticky?, Kristin ForbesThe Efficacy of Large-Scale Asset Purchases When the Short-Term Interest Rate Is at Its Effective Lower Bound, James D. HamiltonThe Federal Reserve Is Not Very Constrained by the Lower Bound on Nominal Interest Rates, Eric T. SwansonComments on Monetary Policy at the Effective Lower Bound, Janet Yellen