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Is there a persistence problem? Part 2: Maybe not

Koenig, Evan F. - In: Economic and Financial Policy Review (2000) Q IV, pp. 11-19

In Part 1 of this two-part series, Evan Koenig explains why some economists are skeptical that staggered price adjustment can account for monetary policy's sustained effects on aggregate economic activity. In Part 2, Koenig looks at labor-market imperfections as a possible source of persistence....

Persistent link: https://www.econbiz.de/10005726397

A new monetary aggregate

Koenig, Evan F.; Fomby, Thomas B. - In: Economic and Financial Policy Review (1990) May, pp. 1-15

liquidity of some assets relative to that of others. As a result, traditional measures of the money supply may have become less … reliable as measures of household liquidity. Even sophisticated measures of the money supply, such as the Divisia monetary … of the money supply that avoids some of the shortcomings of existing monetary aggregates. The behavior of the new measure …

Persistent link: https://www.econbiz.de/10005726405

Monetary policy arithmetic: some recent contributions

Bhattacharya, Joydeep; Haslag, Joseph H. - In: Economic and Financial Policy Review (1999) Q III, pp. 26-36

faster money growth in the future, yielding higher inflation today. The logic behind this spectacular result is predicated on … the satisfaction of one crucial condition: the real interest rate offered on bonds has to exceed the real growth rate of … of financing the deficit by changing reserve requirements instead of raising money growth rates. Interestingly, a …

Persistent link: https://www.econbiz.de/10005726416

A primer on the nature of business cycles

Huffman, Gregory W. - In: Economic and Financial Policy Review (1994) Q I, pp. 27-41

Discussions of the effects of monetary and fiscal policy sometimes center on the impact of such policies in ameliorating fluctuations associated with the business cycle. However, though familiar with the term "business cycle," many people are not aware of what it refers to exactly. In this...

Persistent link: https://www.econbiz.de/10005726432

Monetary policy and recent business-cycle experience

Hafer, R.W.; Haslag, Joseph H.; Hein, Scott E. - In: Economic and Financial Policy Review (1994) Q III, pp. 14-28

Some critics of recent monetary policy have focused on slow M2 growth, claiming that the Federal Reserve is too interested in price stability and is forsaking its growth mandate. Others criticize the Fed for achieving price stability too cautiously and urge the adoption of a rule that seeks to...

Persistent link: https://www.econbiz.de/10005726436