The American Economic Review, Volume 85,Edições 1-3American Economic Association, 1995 |
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Página 233
... Inflation rate ( 0.05 ) ( 20 ) ( 10 ) 0 10 20 30 40 Quarters FIGURE 5. DISINFLATION DYNAMICS 50 50 coefficients on the bill rate and inflation . Thus there is no evidence that , under any of the policies considered , output would be ...
... Inflation rate ( 0.05 ) ( 20 ) ( 10 ) 0 10 20 30 40 Quarters FIGURE 5. DISINFLATION DYNAMICS 50 50 coefficients on the bill rate and inflation . Thus there is no evidence that , under any of the policies considered , output would be ...
Página 234
... inflation . The re- maining three characteristics are the uncon- ditional variances of inflation , the bill rate , and the output gap . Table 6 provides a direct comparison of these system charac- teristics when monetary policy ...
... inflation . The re- maining three characteristics are the uncon- ditional variances of inflation , the bill rate , and the output gap . Table 6 provides a direct comparison of these system charac- teristics when monetary policy ...
Página 237
... inflation and output . Movements toward the other two corners of the policy grid yield predictable results . If policy emphasizes inflation at the expense of output , then output variance rises ; if pol- icy emphasizes output at the ...
... inflation and output . Movements toward the other two corners of the policy grid yield predictable results . If policy emphasizes inflation at the expense of output , then output variance rises ; if pol- icy emphasizes output at the ...
Índice
Evidence? | 17 |
Dan Kovenock and Gordon Phillips | 403 |
The Effect of Institutions on Economic Behavior | 409 |
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aggregate analysis assume average behavior benefits bill rate Bretton Woods Cambridge cartels central bank cheap talk choice coefficient consumption contract correlation cost countries deutsche mark drug effect employment equation estimates evidence expected fiat money firms forecast genotype growth households human capital hypothesis implies incentive income increase individual industry inflation investment Journal of Economic labor market lagged liquidity constraints marginal Medicaid ment minimum wage monetary policy monomorphic Nash equilibrium National nomic nontraded null hypothesis optimal output paper payoff function percent player political population preferences problem quota ratio reduce regression relative Research response revenue risk Robert sample sector shocks significant social Solow residuals spending statistically strategy studies supply shocks symmetric Nash Table tax rates theory tion tive trade University utility variables voters welfare workers y₁ zero