Discretionary monetary policy and inflation persistence
Article Abstract:
An analysis of the persistency puzzle by focusing on the discretionary nature of monetary policy is presented as rational expectation models of staggered price/wage contracts have failed to replicate the observed persistence in inflation and unempoyment during disinflationary periods.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2005
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Comment on: 'using a long-term interest rate as the monetary policy instrument.'
Article Abstract:
The implications of using long-term interest rate over short-term interest rate are examined.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2005
User Contributions:
Comment about this article or add new information about this topic:
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