The Long-Run Effect of Permanent Disinflations.

This paper looks at the long term output effect of those monetary policies aimed at reducing inflation from its peak by late seventies, in nine major OECD countries. The estimated effect depends on the way nominal shocks are identified. Alternatively to the cross-country regression analysis we estimate a structural VAR model in output, inflation and unemployment.

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Year of publication:	1998
Authors:	Andres, J. ; Hernando, I. ; Lopez-Salido, J.D.
Subject:	INFLATION \| PRICES \| CENTRAL BANKS \| ECONOMIC GROWTH

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Type of publication:	Book / Working Paper
Notes:	55 pages
Classification:	E31 - Price Level; Inflation; Deflation ; E58 - Central Banks and Their Policies ; O4 - Economic Growth and Aggregate Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005618399