haku: @author Fuhrer, J. / yhteensä: 5
viite: 3 / 5
| Tekijä: | Fuhrer, J. Moore, G. |
| Otsikko: | Forward-looking behavior and the stability of a conventional monetary policy rule |
| Lehti: | Journal of Money, Credit and Banking
1995 : NOV, VOL. 27:4/1, p. 1060-1070 |
| Asiasana: | MONEY BANKING MONETARY POLICY |
| Kieli: | eng |
| Tiivistelmä: | At the turn of the century, Knut Wicksell introduced an analysis, "The Influence of the Rate of Interest on Prices", that has been influential among policymakers. In fact, a modern version of Wicksell's prescription dominates monetary policy discussions in the financial press today. Despite its simplicity, the modern version of Wicksell's model is not taught in school. The authors submit that one reason for this neglect is that this simple model of inflation cannot be captured in a two-dimensional phase diagram. |
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