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Estimated Effects of the October 1979 Change in Monetary Policy on the 1980 Economy

  • Ray C* Fair

On October 6. 1979, the Federal Reserve announced what most people interpreted as a change in monetary policy. The purpose of this paper is to estimate the effects of this change on the 1980-81 economy. The effects of the change are estimated from simulations with my model of the U.S. economy (1976, 1980b).

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 0538.

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Date of creation: Aug 1980
Date of revision:
Publication status: published as Fair, Ray C. "Estimated Effects of the October 1979 Change in Monetary Policy on the 1980 Economy." The American Economic Review, Vol. 71, No. 2, (May 1981), pp. 160-165.
Handle: RePEc:nbr:nberwo:0538
Note: EFG
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  1. Van Duyne, Carl, 1979. "The macroeconomic effects of commodity market disruptions in open economies," Journal of International Economics, Elsevier, vol. 9(4), pages 559-582, November.
  2. Krugman, Paul & Taylor, Lance, 1978. "Contractionary effects of devaluation," Journal of International Economics, Elsevier, vol. 8(3), pages 445-456, August.
  3. Calvo, Guillermo A & Rodriguez, Carlos Alfredo, 1977. "A Model of Exchange Rate Determination under Currency Substitution and Rational Expectations," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 617-25, June.
  4. Buiter, Willem H, 1978. "Short-run and Long-run Effects of External Disturbances under a Floating Exchange Rate," Economica, London School of Economics and Political Science, vol. 45(179), pages 251-72, August.
  5. Dornbusch, Rudiger & Fischer, Stanley, 1980. "Exchange Rates and the Current Account," American Economic Review, American Economic Association, vol. 70(5), pages 960-71, December.
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