Galbraith, James K. (contributor); … - 2007
unemployment, in a way that suggests that a baseless fear of full employment is a principal force behind monetary policy. Tests of …Using a VAR model of the American economy from 1984 to 2003, we find that, contrary to official claims, the Federal … variations in the workings of a Taylor Rule, using dummy variable regressions, on data going back to 1969 suggest that after 1983 …