Roberts, John M (2006): Monetary Policy and Inflation Dynamics. Published in: International Journal of Central Banking , Vol. Volume, No. Number 3 (14. September 2006): pp. 193-230.
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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.
|Item Type:||MPRA Paper|
|Original Title:||Monetary Policy and Inflation Dynamics|
|Subjects:||G - Financial Economics > G0 - General > G00 - General
G - Financial Economics > G0 - General
|Depositing User:||Terry Woodard|
|Date Deposited:||14. Nov 2006|
|Last Modified:||12. Feb 2013 21:59|
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