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We study macroeconomic systems with forward-looking private sector agents and a monetary authority that is trying to control the economy through the use of a linear policy feedback rule. A typical finding in the burgeoning literature in this area is that policymakers should be relatively...
Persistent link: https://www.econbiz.de/10005352838
monetary policy framework. Inclusion of judgement in forecasts can lead to self-fulfilling fluctuations, but without the …
Persistent link: https://www.econbiz.de/10005707643
Persistent link: https://www.econbiz.de/10002496912
responds positively to surprises in labor productivity growth. However, we do not reject the hypothesis that the real long …
Persistent link: https://www.econbiz.de/10005352806
"Death of a Theory," presented in St. Louis. January 13, 2012.
Persistent link: https://www.econbiz.de/10010727311
"SNEAK PREVIEW: Death of a Theory." Presented at the Korea-America Economic Association, Chicago, Illinois. January 7, 2012.
Persistent link: https://www.econbiz.de/10010727349
inside and outside money does and does not allow the economy to achieve a first-best allocation of resources. We also study …
Persistent link: https://www.econbiz.de/10005360600
inside and outside money does and does not allow the economy to achieve a first-best allocation of resources. We also study …
Persistent link: https://www.econbiz.de/10005360633
, either by themselves, or alongside a stock of outside money. In each case we provide results on the existence and …
Persistent link: https://www.econbiz.de/10005352978
rapid economic and productivity growth, surging corporate profitability, sustained business investment in many areas …
Persistent link: https://www.econbiz.de/10005352887