Studies in Monetary Economics, Issue 3Research Department, Federal Reserve Bank of Minneapolis., 1976 - Economic policy |
Common terms and phrases
adaptive expectations affect unemployment aggregate demand variables Arguments and Evidence Arthur Okun assumed assumption B₂ Bank of Minneapolis Business Cycle correlations between aggregate deterministic econometric Economic Activity economic theory equation estimate Federal Reserve Bank feedback rule forecast errors George Perry hypothesis of rational imply inflation process invariance argument involuntary unemployment Lucas Lucas's model m₁ macroeconomic model Macroeconomic Phenomena monetary authority monetary policy money supply n₁ natural rate hypothesis natural rate-rational expectations natural unemployment rate Neil Wallace Neutrality of Money neutrality theorem nominal aggregate demand nominal contracting noninvariance arguments observed Okun and George optimal output and employment Papers on Economic Phillips curve policy regimes policy rule predictability price level priori random rate-rational expectations hypothesis rational expectations test real GNP real variables regression restriction Robert Solow sample period serial correlation Solow and Tobin Studies in Monetary Theory of Economic Thomas Sargent tion Un₁ uncorrelated unemployment rate hypothesis v₁ variance wage y₁ zero