The Federal Reserve is back with its usual claim that the demand for money shifted in 1982. The alleged shift is used to justify a return to the money growth rates typical of the middle, and late seventies, the Burns and Miller years of highly inflationary monetary policy. This time the claim seems more substantial, or at least is more obvious to the naked eye, so it has been treated as an established fact by Wall Street and Washington.</p
There is little or no dispute among economists about whether recent fiscal policy—particularly the 1...
Romer and Romer (R&R) reported that federal funds rate increases may raise expected inflation by...
The period 1979-86 saw (1) high interest rates, (2) volatile money growth, and (3) new Fed operating...
Late in 1982, the growth of the money supply (MI) accelerated sharply while nominal GNP growth decli...
Until about 1984, the U.S. monetary base typically grew at an accelerating rate. Since then, that ac...
In the late 1970s the money stock was growing at a faster rate than desired, the rate of inflation w...
It is well documented that in the post-Accord period in the United States, the velocity of both Ml (...
This paper documents the evolution of long-run inflation expectations and models the stance of monet...
The Federal Reserve has had an objective of increasing the money stock (M1B) since late 1979 at a ra...
In the several years up to the middle of last fall, the Federal Reserve was increasing the stock of ...
The financial market's understanding of Federal Reserve behavior is used to examine recent chan...
This paper estimates a New Keynesian model to draw inferences about the behavior of the Federal Rese...
There appears to be remarkable unanimity among assessments of Federal Reserve actions over the past ...
This article discusses a technical aspect of the Federal Reserve's monetary targeting procedure that...
Monetary economists have devoted considerable effort to establishing a link between the financial in...
There is little or no dispute among economists about whether recent fiscal policy—particularly the 1...
Romer and Romer (R&R) reported that federal funds rate increases may raise expected inflation by...
The period 1979-86 saw (1) high interest rates, (2) volatile money growth, and (3) new Fed operating...
Late in 1982, the growth of the money supply (MI) accelerated sharply while nominal GNP growth decli...
Until about 1984, the U.S. monetary base typically grew at an accelerating rate. Since then, that ac...
In the late 1970s the money stock was growing at a faster rate than desired, the rate of inflation w...
It is well documented that in the post-Accord period in the United States, the velocity of both Ml (...
This paper documents the evolution of long-run inflation expectations and models the stance of monet...
The Federal Reserve has had an objective of increasing the money stock (M1B) since late 1979 at a ra...
In the several years up to the middle of last fall, the Federal Reserve was increasing the stock of ...
The financial market's understanding of Federal Reserve behavior is used to examine recent chan...
This paper estimates a New Keynesian model to draw inferences about the behavior of the Federal Rese...
There appears to be remarkable unanimity among assessments of Federal Reserve actions over the past ...
This article discusses a technical aspect of the Federal Reserve's monetary targeting procedure that...
Monetary economists have devoted considerable effort to establishing a link between the financial in...
There is little or no dispute among economists about whether recent fiscal policy—particularly the 1...
Romer and Romer (R&R) reported that federal funds rate increases may raise expected inflation by...
The period 1979-86 saw (1) high interest rates, (2) volatile money growth, and (3) new Fed operating...
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