Literaturnachweis - Detailanzeige
| Autor/in | Steindl, Frank G. |
|---|---|
| Titel | A Graphical Exposition of the Inconsistency of Optimal Monetary Plans |
| Quelle | In: Journal of Economic Education, 37 (2007) 3, S.340-347 (8 Seiten)Infoseite zur Zeitschrift
PDF als Volltext |
| Sprache | englisch |
| Dokumenttyp | gedruckt; online; Zeitschriftenaufsatz |
| ISSN | 0022-0485 |
| DOI | 10.3200/JECE.37.3.340-347 |
| Schlagwörter | Macroeconomics; Policy; Banking; Economic Climate; Unemployment; Graphs |
| Abstract | The author presents a geometrical framework in which the inability of discretionary policy (consistent policy in the sense of Kydland and Prescott) to be socially optimal is demonstrated. Policy based on a rule results in a higher level of utility. The author extends the model to demonstrate that policy of a Rogoff conservative central banker results in approaching the same equilibrium as that from a monetary rule. Finally, the framework shows that attempts to exploit the Phillips curve result in stagflation. (Contains 3 figures, 1 table and 7 notes.) (As Provided). |
| Anmerkungen | Routledge. Available from: Taylor & Francis, Ltd. 325 Chestnut Street Suite 800, Philadelphia, PA 19106. Tel: 800-354-1420; Fax: 215-625-2940; Web site: http://www.tandf.co.uk/journals |
| Erfasst von | ERIC (Education Resources Information Center), Washington, DC |
| Update | 2017/4/10 |
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