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ON THE USE OF DISTRIBUTED LAGS AS A PROXY
ON THE INDEX PROBLEM INVOLVED IN MEASURING
k ON THE UNDERLYING RELATIONSHIP BETWEEN INFLATIONARY
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adaptive expectations analysis assume assumption Bank of America bank's bankers Cagan model chapter coefficient constant Correl Dmml depend distributed lag model economic theory economists effect empirical equilibrium estimating the Fisher exogenous expectations formation process expected rate feedback forecasting model final equation Fisher equation forecast Fed given holding period implies inflation forecasting inflation rates inflationary expectations initial result investors lag structures liquidity premium long-term market m-period measure monetary base monetary economy monetary expansion monetary policy money stock multiplier nominal interest rate nominal rate past prices possible price controls price expectations price index price level problem rate of appreciation rate of inflation rate of monetary rate of return rational expectations real money balances real rate real return research departments return on bonds return on capital role short-term stability conditions survey data tangible wealth tatonnement term structure tion transaction costs United California Bank variables variance zero