a nominal GDP target, which automatically divides an adverse supply shock equally between impacts on inflation and real … supply, exchange rate,or inflation. But the proposal appears in the context of the largest advanced economies. In fact NGDP … output and inflation but a credible rule is needed in order to prevent an inflationary bias that arises under discretion. A …

. It is then argued that, whereas Monetarism brought about a revival of the quantity theory of money from the limbo into … which Keynesianism had pushed it, RE-NC modelling was responsible for that theory’s most recent disappearance. This happened …

Geldpolitik auszuwirken. Nach 1,5 % 1996 dürfte das reale BIP 1997 um etwa 3 % expandieren. …

Beschleunigung der Inflation gerechnet. Als Hauptprobleme der Wirtschaft wurden weiterhin Budgetdefizite und Arbeitslosigkeit …