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Persistent link: https://www.econbiz.de/10011975674
of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …
Persistent link: https://www.econbiz.de/10011409738
This paper brings together, using extensive archival material from several countries, scattered information about Milton Friedman's views and predictions regarding U.S. monetary policy developments after 1960 (i.e., the period beyond that covered by his and Anna Schwartz's Monetary History of...
Persistent link: https://www.econbiz.de/10012731101
type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …
Persistent link: https://www.econbiz.de/10010257361
type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …
Persistent link: https://www.econbiz.de/10013055428
type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …
Persistent link: https://www.econbiz.de/10013058143
type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …
Persistent link: https://www.econbiz.de/10013058207
shocks driving the economy and the systematic response of monetary policy to inflation: More flexible prices amplify the … the effect of supply shocks on output if interest rates are very responsive to inflation. Next, we estimate a medium …
Persistent link: https://www.econbiz.de/10009521652
. Higher, persistent, inflation benefits homeowners under FRMs but hurts them under ARMs. …
Persistent link: https://www.econbiz.de/10011306278
different predictions for the optimal inflation rate than their popular homogenous-firm counterparts: (1) the optimal steady …-state inflation rate generically differs from zero and (2) inflation optimally responds to productivity disturbances. We show this by … estimate the historically optimal inflation path for the U.S. economy. In the year 1977, the optimal inflation rate stood at 1 …
Persistent link: https://www.econbiz.de/10011845313