Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/57663
Citations | ||
Scopus | Web of Science® | Altmetric |
---|---|---|
?
|
?
|
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Collard, F. | - |
dc.contributor.author | Dellas, H. | - |
dc.date.issued | 2007 | - |
dc.identifier.citation | Journal of Money, Credit and Banking, 2007; 39(2-3):713-731 | - |
dc.identifier.issn | 0022-2879 | - |
dc.identifier.issn | 1538-4616 | - |
dc.identifier.uri | http://hdl.handle.net/2440/57663 | - |
dc.description.abstract | The two leading explanations for the poor inflation performance during the 1970s are policy opportunism (Barro and Gordon 1983) and “inadvertently” bad monetary policy (Clarida, Gali, and Gertler 2000, Orphanides 2003). The main models of the latter category are that of Orphanides (loose monetary policy was the outcome of mis-perceptions about potential output rather than of inflation tolerance) and of Clarida, Gali, and Gertler (weak policy reaction to expected inflation led to indeterminacies). We show that both of these models can account for high and persistent inflation and also have satisfactory overall performance if an exceptionally large decrease in productivity took place at that time. | - |
dc.language.iso | en | - |
dc.publisher | Ohio State Univ Press | - |
dc.source.uri | http://dx.doi.org/10.1111/j.0022-2879.2007.00043.x | - |
dc.subject | inflation | - |
dc.subject | imperfect information | - |
dc.subject | learning | - |
dc.subject | monetary policy rule | - |
dc.subject | indeterminacy | - |
dc.title | The Great inflation of the 1970s | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1111/j.0022-2879.2007.00043.x | - |
pubs.publication-status | Published | - |
Appears in Collections: | Aurora harvest 5 Economics publications |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.