Inflation and monetary policy in the twentieth century

This article characterizes the change in the nature of the money growth-inflation and unemployment-inflation relationships between the first and second halves of the twentieth century. The changes are substantial, and the authors discuss some of the implications for modeling inflation dynamics, notably for models of inflation that say that bad inflation outcomes result from poorly designed monetary policy institutions.

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Year of publication:	2003
Authors:	Christiano, Lawrence J. ; Fitzgerald, Terry J.
Published in:	Economic Perspectives. - Federal Reserve Bank of Chicago. - 2003, Q I, v. 27, no. 1, p. 22-45
Publisher:	Federal Reserve Bank of Chicago
Subject:	Inflation (Finance) \| Monetary policy \| Unemployment

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005373265