منابع مشابه
The Inflation/Output Trade-off Revisited
Describing the nature of the trade-off between inflation and output or unemployment has long been difficult and controversial. The Friedman-Phelps hypothesis, that there is no long-run Phillips curve trade-off between inflation and unemployment, has clearly won over most macro-. economists, but the debate has continued over what, if any, trade-off remains. The subtle notion that an uncertain sh...
متن کاملGreenspan's Unconventional View of the Long-run Inflation/output Trade-off
Views expressed do not necessarily reflect official positions of the Federal Reserve System. Since becoming Chairman of the Federal Reserve in 1987, Alan Greenspan steadfastly has held to the view that low and stable inflation is a prerequisite for maximum sustainable economic growth. He has reiterated this belief many times during his nearly two decades as Fed Chairman. In congressional testim...
متن کاملDiscretionary policy exploiting learning in a sticky-information model of the inflation-output trade-off: Bridging the gap to commitment
When present and past policy is used to learn about policymaking and predict future policy, central banks can exploit this to influence expectations and thereby improve policy without making any commitments. In a sticky-information model of the inflation-output trade-off, we show how the optimal discretionary policy exploiting learning converges towards the optimal commitment rule when the disc...
متن کاملPoverty Traps and Development: The Equity-Efficiency Trade-Off Revisited
The paper discusses some core reasons why poverty remains widespread in many developing countries: market failures combine with asset inequalities to result in poverty persistence, and often poverty traps from which the poor may not be able to emerge, even in a context of aggregate economic growth. As examples the paper discusses some theoretical implications and empirical evidence for three co...
متن کاملWomen’s Preferences for Men’s Facial Masculinity: Trade-Off Accounts Revisited
Studies on mate preferences have demonstrated that women’s perception of male attractiveness is sensitive to men’s facial masculinity, and that women’s preferences for facial masculinity are subject to individual differences, such as own condition. These individual differences have been linked to potential tradeoffs that women face given the hypothesized benefits and costs that masculinity may ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2013
ISSN: 1556-5068
DOI: 10.2139/ssrn.2241574