A different kind of money illusion: the case of long and variable lags
An 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.
|Date of creation:||1991|
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Cowles Foundation Discussion Papers
283, Cowles Foundation for Research in Economics, Yale University.
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