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Inflation and monetary policy in the twentieth century Author info | Abstract | Publisher info | Download info | Related research | Statistics Lawrence J. Christiano
Terry J. Fitzgerald
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This article characterizes the change in the nature of the money growth-inflation and unemployment-inflation relationships between the first and second halves of the twentieth century. The changes are substantial, and the authors discuss some of the implications for modeling inflation dynamics, notably for models of inflation that say that bad inflation outcomes result from poorly designed monetary policy institutions.
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Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives .
Volume (Year): (2003)
Issue (Month): Q I ()
Pages: 22-45
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Handle: RePEc:fip:fedhep:y:2003:i:qi:p:22-45:n:v.27no.1Contact details of provider: Postal: P.O. Box 834, 230 South LaSalle Street, Chicago, Illinois 60690-0834 Phone: 312/322-5111 Fax: 312/322-5515 Email: Web page: http://www.chicagofed.org/ More information through EDIRC
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Keywords: Inflation (Finance) ; Monetary policy ; Unemployment ; Other versions of this item:
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Richard A. Ashley. & Randall J. Verbrugge., 2006.
"Mis-Specification and Frequency Dependence in a New Keynesian Phillips Curve ,"
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Richard A. Ashley. & Randall J. Verbrugge, 2006.
"Frequency Dependence in Regression Model Coefficients: An Alternative Approach for Modeling Nonlinear Dynamic Relationships in Time Series ,"
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Timothy Cogley & Thomas J. Sargent, 2005.
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