The author shows that the short-term nominal interest rate can anchor private-sector expectations into low inflation more precisely, into the best equilibrium reputation can sustain. He introduces nominal asset markets in an infinite horizon version of the Barro-Gordon model. The author then...

Remarks before the Center for the Study of American Business, Washington University, St. Louis - July 29, 1999

Presentation to the Midwest Economic Education Conference, St. Louis - April 11, 2002

Presentation to the Midwest Economic Education Conference, St. Louis - April 11, 2002

Remarks before the Center for the Study of American Business, Washington University, St. Louis - July 29, 1999