Some Not-so-Unpleasant Monetarist Arithmetic

The celebrated monetarist arithmetic argument of Sargent and Wallace implies outcomes that may be large and unpleasant. But a dynamic stochastic model calibrated to the U.S. economy reveals the quantitative effect of monetarist arithmetic to be small. Monetary policies that react to the level of debt produce nominal behavior quite similar to policies that are independent of debt. In actual practices, monetarist arithmetic is not so unpleasant after all

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Year of publication:	2012
Authors:	Dotsey, Michael
Publisher:	[2012]: [S.l.] : SSRN
Subject:	Theorie \| Theory \| Inflation \| Geldpolitik \| Monetary policy \| Öffentliche Schulden \| Public debt \| Geldmenge \| Money supply \| Inflationserwartung \| Inflation expectations \| Preisniveau \| Price level

Extent:	1 Online-Ressource (19 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: FRB Richmond Economic Quarterly, vol. 82, no. 4, Fall 1996, pp. 73-91 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 1996 erstellt
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013102431