cover -- Contents -- Series Foreword -- Preface -- Introduction -- A Simple Model of Unemployment and Inflation …

the Volcker-Greenspan period appears to have been much more sensitive to changes in expected inflation than in the pre …-Volcker period. We then compare some of the implications of the estimated rules for equilibrium properties of inflation and output …-fulfilling fluctuations in inflation and output. In contrast, the Volcker-Greenspan rule is stabilizing …