The Role of Policymakers in Business Cycle Fluctuations

Released on by Jim Granato
preview-18

  • The Role of Policymakers in Business Cycle Fluctuations Book Detail

  • Author : Jim Granato
  • Release Date : 2006-03-13
  • Publisher : Cambridge University Press
  • Genre : Political Science
  • Pages : 27
  • ISBN 13 : 1139450956
  • File Size : 17,17 MB
DOWNLOAD BOOK

The Role of Policymakers in Business Cycle Fluctuations by Jim Granato PDF Summary

Book Description: This book's central theme is that a policymaker's role is to enhance the public's ability to coordinate their price information, price expectations, and economic activities. This role is fulfilled when policymakers maintain inflation stability. Inflation persists less when an implicit or explicit inflation target is met. Granato and Wong argue that inflation persistence is reduced when the public substitutes the prespecified inflation target for past inflation. A by-product of this co-ordination process is greater economic stability. In particular, inflation stability contributes to greater economic output stability, including the potential for the simultaneous reduction of both inflation and output variability - inflation-output co-stabilization (IOCS). Granato and Wong use historical, formal, and applied statistical analysis of business-cycle performance in the United States for the 1960 to 2000 period. They find that during periods when policymakers emphasize inflation stability, inflation uncertainty and persistence were reduced.

Disclaimer: www.yourbookbest.com does not own The Role of Policymakers in Business Cycle Fluctuations books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

The Business Cycle: Theories and Evidence

The Business Cycle: Theories and Evidence

File Size : 17,17 MB
Total View : 9048 Views
DOWNLOAD

These proceedings, from a conference held at the Federal Reserve Bank of St. Louis on October 17-18, 1991, attempted to layout what we currently know about aggr