| Author: | Fuhrer, J. Moore, J. |
| Title: | Monetary policy trade-offs and the correlation between nominal interest rates and real output |
| Journal: | American Economic Review
1995 : MAR, VOL. 85:1, p. 219-239 |
| Index terms: | MONETARY POLICY TRADE INTEREST RATES |
| Language: | eng |
| Abstract: | The authors present a structural model of the U.S. economy that combines their price-contracting specification with a term-structure relationship, an aggregate demand curve, and a monetary-policy reaction function. The model matches important features of postwar data well and provides a structural explanation of the correlation between real output and the short-term nominal rate of interest. |
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