Price stability vs. output stability: tales of federal reserve administrations
نویسندگان
چکیده
منابع مشابه
OUTPUT AND PRICE STABILITY An International Comparison
The paper examines the behavior of output and prices for 10 ditTerent countries within the context of a rational expectations model with wage contracts. The model predicts that there is a policy tradeoff between output stability and price stability, and the estimated correlations and dynamic interactions are generally consistent with the model. For each of the countries the model is fit to the ...
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ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2003
ISSN: 0165-1889
DOI: 10.1016/s0165-1889(02)00072-6