Year: 1986
Author: Adolph, Brigitte
Credit and Capital Markets – Kredit und Kapital, Vol. 19 (1986), Iss. 3 : pp. 340–350
Abstract
The Existence of an Effective Monetary Policy under Rational Expectations and Rigid Goods Prices
Within the framework of an elementary macromodel with rational expectations and rigid goods prices it is shown that deflationary policies result in a decline of the average production level even when their effect has been correctly anticipated. Every systematic inflationary policy, on the other hand, is allocation-neutral.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/ccm.19.3.340
Credit and Capital Markets – Kredit und Kapital, Vol. 19 (1986), Iss. 3 : pp. 340–350
Published online: 1986-03
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 11
Author Details
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