Some the the major challenges we will continue to face and resolve are: First, the problem of relying excessively on short-term fund leading to the predominance of short term credits Although on the average in 2004 deposits experienced a modest increase, the composition of deposits have been dominated by those with maturity of 1 month.
It should be read by anyone – policymaker or academic – who is interested in deepening and broadening his or her understanding of the current U.S. macroeconomic situation. I found the paper’s focus on the behavior of the capital stock and total factor productivity (TFP) to be especially informative.