Search Results
Journal Article
How do forecasts respond to changes in monetary policy?
Laurence Ball and Dean Croushore look at forecasts from the Survey of Professional Forecasters to determine if forecasts and the economy respond in tandem or if there are significant differences.
Working Paper
What determines the sacrifice ratio?
Working Paper
Expectations and the effects of monetary policy
This paper examines the predictive power of shifts in monetary policy, as measured by changes in the real federal funds rate, for output, inflation, and survey expectations of these variables. The authors find that policy shifts have larger effects on actual output than on expected output, suggesting that agents underestimate the effects of policy on aggregate demand. Their results help explain the real effects of monetary policy, and they provide negative evidence on the rationality of expectations.
Working Paper
Expectations and the effects of monetary policy
Conference Paper
A sticky-price manifesto
Journal Article
How costly is disinflation? The historical evidence
Conference Paper
The genesis of inflation and the costs of disinflation
Conference Paper
What do budget deficits do?
Working Paper
Imperfect information and staggered price setting