On Some Monetarist Arithmetic
AbstractThe paper improves upon the original Sargent-Wallace (SW) version which had to resort to numerical simulations to prove this point It is also shown that incorporating the Mundeil-Tobin and Darby-Tanzi effects into the model indicates further conditions that would (in)validate the SW result
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Bibliographic InfoPaper provided by eSocialSciences in its series Working Papers with number id:3027.
Date of creation: Oct 2010
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sargent wallace; SW; Darby-Tanzi; validate; effects; numerical; simulations; steady-state inflation; monetary accommodation; debt-financing; monetarist; arithmetic;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-10-23 (All new papers)
- NEP-MAC-2010-10-23 (Macroeconomics)
- NEP-MON-2010-10-23 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Thomas J. Sargent & Neil Wallace, 1981. "Some unpleasant monetarist arithmetic," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall.
- Robert Mundell, 1963. "Inflation and Real Interest," Journal of Political Economy, University of Chicago Press, vol. 71, pages 280.
- Darby, Michael R, 1975. "The Financial and Tax Effects of Monetary Policy on Interest Rates," Economic Inquiry, Western Economic Association International, vol. 13(2), pages 266-76, June.
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