8  2  Gerlach and Svensson (2002) compared the usefulness of the “real money gap” (which can be decomposed into the “GDP gap” and the “velocity gap”) as an information variable with the GDP gap.
Policymakers need to be aware of and be willing to confront these issues. But let me be clear: I am optimistic about the future of rural America. The narrative of rural decline is too sweeping and brushes aside the diversity of the rural experience.