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This paper examines the welfare implications of managing Q with inflation targeting by monetary authorities who have to "learn" the laws of motion for both inflation and the rate of growth of Q. Our results show that the Central Bank can achieve great success in reducing the volatility of GDP...
Persistent link: https://www.econbiz.de/10005702704
The Lorenz curve relates the cumulative proportion of income to the cumulative proportion of population. When a particular functional form of the Lorenz curve is specified it is typically estimated by linear or nonlinear least squares assuming that the error terms are independently and normally...
Persistent link: https://www.econbiz.de/10005328690
Recently, there has been a resurgence of studies on the distribution of income and inequality at regional and global levels, largely driven by the concerns of economists, international development organisations and the general public about the overall effects of globalisation on growth and...
Persistent link: https://www.econbiz.de/10005063681