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~isPartOf:"NBER Working Paper"
~isPartOf:"WPg : Kompetenz schafft Vertrauen"
~person:"Barro, Robert J."
~person:"Mishkin, Frederic S."
~subject:"Einkommenshypothese"
~subject:"Geldpolitik"
~subject:"Panel study"
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Convergence and Modernization Revisited
Barro, Robert J.
-
2012
frame-34 countries with GDP data starting between 1870 and 1896-
estimation
with country fixed effects is more appropriate … "iron-law" rate of 2%. In the post-1960s panel,
estimation
without country fixed effects supports the modernization …
Persistent link: https://www.econbiz.de/10013101830
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2
Rethinking the Role of NAIRU in Monetary Policy : Implications of Model Formulation and Uncertainty
Estrella, Arturo
;
Mishkin, Frederic S.
-
2021
In this paper we rethink the NAIRU concept and examine whether it might have a useful role in monetary policy. We argue that it can, but success depends critically on defining NAIRU as a short-run concept and distinguishing it from a long-run concept like the natural rate of unemployment. We...
Persistent link: https://www.econbiz.de/10013231562
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3
The Sensitivity of Consumption to Transitory Income : Estimates from Panel Data on Households
Hall, Robert E.
;
Mishkin, Frederic S.
-
2021
We investigate the stochastic relation between income and consumption (specifically, consumption of food) within a panel of about 2,000 households. Our major findings are: 1. Consumption responds much more strongly to permanent than to transitory movements of income. 2. The response to...
Persistent link: https://www.econbiz.de/10013313805
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4
Does Anticipated Monetary Policy Matter? an Econometric Investigation
Mishkin, Frederic S.
-
2021
Recent theorizing with business cycle models which incorporate features of the Friedman-Phelps natural rate model along with rational expectations lead to the following policy conclusions. Anticipated changes in aggregate demand policy will have already been taken into account in economic agents...
Persistent link: https://www.econbiz.de/10013227072
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5
Is There a Role for Monetary Aggregates in the Conduct of Monetary Policy?
Estrella, Arturo
-
2006
We examine the potential policy role of monetary aggregates by attempting to use them as effectively as possible in the analysis of empirical relationships. We consider three possible roles: as information variables, as indicators of policy actions and as instruments in a policy rule. These...
Persistent link: https://www.econbiz.de/10012783973
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