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the observed causal relations. My conclusion is that business cycle theory remains behind business cycle measurement …
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. The first paper, Working Paper 96-007B, surveys the microeconomic theory of the aggregation of monetary assets. This paper …
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Actual policy decisions are made in real time and are not irrevocable. These observations are mundane, but most policy modeling has neglected them. We show that when policy is made in an environment of uncertainty, costs of switching policies give the option to wait positive value. This insight...
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Presentation at St. Louis University, St. Louis - Feb. 24, 2000
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This paper provides the most fully comprehensive evidence to date on whether or not monetary aggregates are valuable for forecasting US inflation in the early to mid 2000s. We explore a wide range of different definitions of money, including different methods of aggregation and different...
Persistent link: https://www.econbiz.de/10004973888
Presentation at St. Louis University, St. Louis - Feb. 24, 2000
Persistent link: https://www.econbiz.de/10011185053
This paper offers a methodological contribution to monetary theory. First, it presents a model economy with cash …
Persistent link: https://www.econbiz.de/10011027345
-form literature. The analysis reduces the previously large gap between mainstream macro and monetary theory. …
Persistent link: https://www.econbiz.de/10005077876