Inflation, Tax Rules, and the Long-Term Interest Rate
نویسندگان
چکیده
منابع مشابه
Inflation shocks and interest rate rules
Recent empirical evidence by Fair (2002, 2005) and Giordani (2003) shows that a positive inflation shock with the nominal interest rate held constant has contractionary effects. These results cannot be reconciled with the standard ‘New Synthesis’ literature. This paper reconsiders the effects of inflation shocks in a simple New Keynesian framework extended to include wealth effects. It is shown...
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ژورنال
عنوان ژورنال: Brookings Papers on Economic Activity
سال: 1978
ISSN: 0007-2303
DOI: 10.2307/2534362