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The Credibility Effect and Rational Expectations: Implications of the Gramlich Study

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  • William Fellner

    (American Enterprise Institute)

Abstract

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Suggested Citation

  • William Fellner, 1979. "The Credibility Effect and Rational Expectations: Implications of the Gramlich Study," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 10(1), pages 167-190.
  • Handle: RePEc:bin:bpeajo:v:10:y:1979:i:1979-1:p:167-190
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    File URL: https://www.brookings.edu/wp-content/uploads/1979/01/1979a_bpea_fellner_phelps_gordon.pdf
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    Citations

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    Cited by:

    1. Bennett T. McCallum, 1984. "Credibility and monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 105-135.
    2. Aurélien Goutsmedt & Goulven Rubin, 2018. "Robert J. Gordon and the introduction of the natural rate hypothesis in the Keynesian framework," Post-Print halshs-01821825, HAL.
    3. Robert J. Gordon, 1988. "U.S. Inflation, Labor's Share, and the Natural Rate of Unemployment," NBER Working Papers 2585, National Bureau of Economic Research, Inc.
    4. Syahid Izzulhaq & Akhmad Syakir Kurnia, 2022. "The Credibility of Monetary Policy and Procyclical Fiscal Policy," Applied Economics and Finance, Redfame publishing, vol. 9(1), pages 121-139, December.
    5. Roger Guesnerie, 2001. "The Government and Market Expectations," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 157(1), pages 116-126, March.
    6. Neumark, David & Leonard, Jonathan S, 1993. "Inflation Expectations and the Structural Shift in Aggregate Labor-Cost Determination in the 1980s," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(4), pages 786-800, November.
    7. Robert J. Gordon, 1983. "Using Monetary Control to Dampen the Business Cycle: A New Set of First Principles," NBER Working Papers 1210, National Bureau of Economic Research, Inc.
    8. Charles Freedman, 1981. "Monetary Aggregates as Targets: Some Theoretical Aspects," NBER Working Papers 0775, National Bureau of Economic Research, Inc.
    9. Akhmad Syakir Kurnia & Syahid Izzulhaq & Johan Beni Maharda & Agung Kunaedi, 2021. "Inflation and Financial Stability Trade‐off: Role of Monetary Policy Credibility and Fiscal Cyclicality," Economic Papers, The Economic Society of Australia, vol. 40(1), pages 31-53, March.

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    Keywords

    macroeconomics; price shocks;

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