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. The regimes are fully characterized by the mean and variance of inflation and are assumed to be the result of alternative … government policies. Agents are unable to directly observe whether government actions are indeed consistent with the inflation … observations of inflation and money growth. Government announcements are assumed to provide agents with additional, possibly …
Persistent link: https://www.econbiz.de/10005353239
Barsky, House and Kimball (2007) show that introducing durable goods into a sticky-price model leads to negative sectoral comovement of production following a monetary policy shock and, under certain conditions, to aggregate neutrality. These results appear to undermine sticky-price models. In...
Persistent link: https://www.econbiz.de/10008679125
using survey data on inflation expectations. The results based on these two specifications exhibit sharp differences …
Persistent link: https://www.econbiz.de/10005353311
This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level. The government is characterized by a long-run fiscal policy rule whereby a given fraction of the outstanding debt, say d, is backed by the present discounted...
Persistent link: https://www.econbiz.de/10005353490
between the governments’ fiscal policy and the rate of inflation. …
Persistent link: https://www.econbiz.de/10005731961
Long Cycle. Such a Breakdown Starts a Process of Unexpected Inflation, of Balance of Payments Imbalances and of …
Persistent link: https://www.econbiz.de/10005545657
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Salariaux au Canada Ne Seraient Responsables Que de 16% de L'inflation au Cours de la Derniere Decennie Alors Que le Capital …
Persistent link: https://www.econbiz.de/10005545714
): une Forme Fonctionnelle Semi-Logarithmique et une Forme Logarithmique. L'inflation Anticipee Dans Ces Equations Est …
Persistent link: https://www.econbiz.de/10005545763
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