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The short-run dynamics of long-run inflation policy

  • John B. Carlson
  • William T. Gavin
  • Katherine A. Samolyk

An examination of the short- and long-term implications of an inflation policy on real output, using a method that allows structural interpretation of a simple VAR applied to a macroeconomic system that includes real output and inflation.

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File URL: http://www.clevelandfed.org/Research/Review/1990/90-q3-carlson.pdf
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Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1990)
Issue (Month): Q III ()
Pages: 26-35

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Handle: RePEc:fip:fedcer:y:1990:i:qiii:p:26-35:n:v.26no.3
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  1. David Altig & Charles T. Carlstrom, 1990. "Inflation and the personal tax code: assessing indexation," Working Paper 9006, Federal Reserve Bank of Cleveland.
  2. Schwert, G. William, 1987. "Effects of model specification on tests for unit roots in macroeconomic data," Journal of Monetary Economics, Elsevier, vol. 20(1), pages 73-103, July.
  3. Robert G. King & Charles I. Plosser & James H. Stock & Mark W. Watson, 1991. "Stochastic trends and economic fluctuations," Working Paper Series, Macroeconomic Issues 91-4, Federal Reserve Bank of Chicago.
  4. Ben S. Bernanke, 1986. "Alternative Explanations of the Money-Income Correlation," NBER Working Papers 1842, National Bureau of Economic Research, Inc.
  5. Matthew D. Shapiro & Mark W. Watson, 1988. "Sources of Business Cycle Fluctuations," NBER Working Papers 2589, National Bureau of Economic Research, Inc.
  6. Litterman, Robert B & Weiss, Laurence M, 1985. "Money, Real Interest Rates, and Output: A Reinterpretation of Postwar U.S. Data," Econometrica, Econometric Society, vol. 53(1), pages 129-56, January.
  7. Olivier Jean Blanchard & Danny Quah, 1988. "The Dynamic Effects of Aggregate Demand and Supply Disturbance," Working papers 497, Massachusetts Institute of Technology (MIT), Department of Economics.
  8. Peter C.B. Phillips & Pierre Perron, 1986. "Testing for a Unit Root in Time Series Regression," Cowles Foundation Discussion Papers 795R, Cowles Foundation for Research in Economics, Yale University, revised Sep 1987.
  9. Christopher A. Sims, 1986. "Are forecasting models usable for policy analysis?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 2-16.
  10. John P. Judd & Bharat Trehan, 1989. "Unemployment-rate dynamics: aggregate-demand and -supply interactions," Economic Review, Federal Reserve Bank of San Francisco, issue Fall, pages 20-37.
  11. W. Lee Hoskins, 1990. "A monetary policy for the 1990's," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
  12. John F. Boschen & Leonard O. Mills, 1989. "Real and monetary explanations of permanent movements in GNP," Working Papers 89-16, Federal Reserve Bank of Philadelphia.
  13. Michael F. Bryan, 1990. "Inflation and growth: working more vs. working better," Economic Commentary, Federal Reserve Bank of Cleveland, issue Aug.
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