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Journal Article
The saving shortfall
Working Paper
Growth and inflation: a cross-country study
Journal Article
Controlling inflation with an interest rate instrument
In this paper we examine the effectiveness in controlling long-run inflation of feedback rules for monetary policy that link changes in a short-term interest rate to an intermediate target for either nominal GDP or M2. We conclude that a rule aimed at controlling the growth rate of nominal GDP with an interest rate instrument could be an improvement over a purely discretionary policy. Our results suggest that the rule could provide better long-run control of inflation without increasing the volatility of real GDP or interest rates. Moreover, such a rule could assist policymakers even if it ...
Journal Article
Should monetary policy focus on "core" inflation?
Journal Article
Dynamic adjustment in money demand
Journal Article
Nominal feedback rules for monetary policy
Journal Article
Inequality in the United States
Working Paper
Growth and inflation: a cross-country study
Journal Article
Recent developments in labor force participation
Journal Article
Has there been a change in the natural rate of unemployment?