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Monetary Policy and Inflation Dynamics Author info | Abstract | Publisher info | Download info | Related research | Statistics Roberts, John M
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Since the early 1980s, the U.S. economy has changed in some important ways: inflation now rises considerably less when unemployment is low, and the volatility of output and inflation have fallen sharply. This paper examines whether changes in monetary policy can account for these changes in the economy. The results suggest that changes in monetary policy can account for most or all of the change in the inflationunemployment relationship. In addition, changes in policy can explain a large proportion of the reduction in the volatility of the output gap.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
812.
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Date of creation: 06 Jul 2006Date of revision:
Publication status: Published in International Journal of Central Banking Number 3.Volume 2(2006): pp. 193-230Handle: RePEc:pra:mprapa:812Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany Phone: +49-(0)89-2180-2219 Fax: +49-(0)89-2180-3900 Web page: http://mpra.ub.uni-muenchen.de More information through EDIRC
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Find related papers by JEL classification: G00 - Financial Economics - - General - - - General G0 - Financial Economics - - General
This paper has been announced in the following NEP Reports :
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