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 …

inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development … at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation …, the implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting …

inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development … at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation …, the implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting …

inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development … at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation …, the implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting …

Seit seinem Amtsantritt als US-Notenbankchef im Februar 2006 hat Ben Bernanke die amerikanische Geldpolitik auf den … umfangreichen Stützungsprogramme der US-Notenbank (Fed) nicht nur die US-Wirtschaft stabilisieren, sondern auch die Inflation … anheizen könnten. Der Beitrag beleuchtet die Geldpolitik Bernankes, beschreibt die Maßnahmen der Fed und diskutiert die Risiken …

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 …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … effects. Although our theory contains no money illusion, no permanent nominal rigidities, and no departure from rational … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be …