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Commentary William Nordhaus
The Benefits of Price Stability Stanley Fischer
Commentary Robert J Shiller
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actual adjustment aggregate demand curve aggregate supply aggregate supply curve Barro-Gordon behavior budget deficits Bundesbank central bank coefficients costs of inflation deflator discretionary disinflation dynamic inconsistency econometric Economic Activity economists elastic price target elastic target estimates exogenous expected Fair's Fed's Federal Reserve Bank Fischer forecast errors Friedman Gordon growth rate income growth increase indexation inflation rate inflationary interest rate intermediate target issue Kydland lagged Lucas critique macroeconomic McCallum Mishkin monetarist monetary base monetary policy money growth money supply natural rate level nomic nominal income percent period Phillips curve policymakers President Federal Reserve price and wage price equation price level price of imports price stability price variability Professor of Economics quarters rate of change rate of inflation real output real wage relative price rise shift simulation specification standard errors supply shocks Table tion unem unemployment rate wage and price wage equation