A different kind of money illusion: the case of long and variable lags
AbstractAn analysis of how the money supply process can affect the cross-covariance structure of inflation and monetary growth, showing that the Federal Reserve's change in emphasis to monetary targeting in late 1979 could have made the apparently long lag from money growth to inflation virtually disappear in the 1980s.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 9122.
Date of creation: 1991
Date of revision:
Other versions of this item:
- Bryan, Michael F. & Gavin, William T., 1994. "A different kind of money illusion: The case of long and variable lags," Journal of Policy Modeling, Elsevier, vol. 16(5), pages 529-540, October.
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.:
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2000-013, Federal Reserve Bank of St. Louis.
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- Dave, Chetan & Dressler, Scott, 2007. "Market structure and business cycles: Do nominal rigidities influence the importance of real shocks?," MPRA Paper 1794, University Library of Munich, Germany.
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9605, Federal Reserve Bank of Cleveland.
- William T. Gavin, 1996. "The FOMC in 1995: a step closer to inflation targeting?," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 29-47.
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