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The short-run dynamics of long-run inflation policy

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Author Info

  • John B. Carlson
  • William T. Gavin
  • Katherine A. Samolyk

Abstract

An examination of the short- and long-term implications of an inflation policy on real output, using a method that allows structural interpretation of a simple VAR applied to a macroeconomic system that includes real output and inflation.

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File URL: http://www.clevelandfed.org/Research/Review/1990/90-q3-carlson.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1990)
Issue (Month): Q III ()
Pages: 26-35

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Handle: RePEc:fip:fedcer:y:1990:i:qiii:p:26-35:n:v.26no.3

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Related research

Keywords: Inflation (Finance) ; Monetary policy ; Gross national product;

References

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  1. Schwert, G. William, 1987. "Effects of model specification on tests for unit roots in macroeconomic data," Journal of Monetary Economics, Elsevier, vol. 20(1), pages 73-103, July.
  2. Phillips, P.C.B., 1986. "Testing for a Unit Root in Time Series Regression," Cahiers de recherche 8633, Universite de Montreal, Departement de sciences economiques.
  3. Litterman, Robert B & Weiss, Laurence M, 1985. "Money, Real Interest Rates, and Output: A Reinterpretation of Postwar U.S. Data," Econometrica, Econometric Society, vol. 53(1), pages 129-56, January.
  4. Robert G. King & Charles I. Plosser & James H. Stock & Mark W. Watson, 1992. "Stochastic Trends and Economic Fluctuations," NBER Working Papers 2229, National Bureau of Economic Research, Inc.
  5. Olivier Jean Blanchard & Danny Quah, 1990. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," NBER Working Papers 2737, National Bureau of Economic Research, Inc.
  6. Bernanke, Ben S., 1986. "Alternative explanations of the money-income correlation," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 25(1), pages 49-99, January.
  7. Matthew D. Shapiro & Mark W. Watson, 1989. "Sources of Business Cycle Fluctuations," NBER Working Papers 2589, National Bureau of Economic Research, Inc.
  8. Christopher A. Sims, 1986. "Are forecasting models usable for policy analysis?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 2-16.
  9. John F. Boschen & Leonard O. Mills, 1989. "Real and monetary explanations of permanent movements in GNP," Working Papers 89-16, Federal Reserve Bank of Philadelphia.
  10. David Altig & Charles T. Carlstrom, 1990. "Inflation and the personal tax code: assessing indexation," Working Paper 9006, Federal Reserve Bank of Cleveland.
  11. John P. Judd & Bharat Trehan, 1989. "Unemployment-rate dynamics: aggregate-demand and -supply interactions," Economic Review, Federal Reserve Bank of San Francisco, issue Fall, pages 20-37.
  12. W. Lee Hoskins, 1990. "A monetary policy for the 1990's," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
  13. Michael F. Bryan, 1990. "Inflation and growth: working more vs. working better," Economic Commentary, Federal Reserve Bank of Cleveland, issue Aug.
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