Search Results
Journal Article
A price objective for monetary policy
An argument that the Federal Reserve, by targeting a long-run path for the price level, could achieve its price-stability objective without inhibiting its short-term goals.
Journal Article
New evidence connecting exchange rates to business cycles
Working Paper
Sources of business cycles in Korea and the United States
The authors estimate common and nation-specific components of technology shocks, real demand shocks, and combined (common and nation-specific) monetary shocks using quarterly data for Korea and the United States.
Journal Article
Theoretical issues of liquidity effects.
Journal Article
Short-run effects on money when some prices are sticky
Journal Article
Inflation, growth, and financial intermediation - commentary
Journal Article
Real business cycle theory: a guide, an evaluation, and new direction
An evaluation of the state of real business cycle theory, with an outline of useful directions for further research and a discussion of economic policy implications.
Working Paper
Tastes and technology in a two-country model of the business cycle: explaining international co-movements
The authors develop a two-country real business cycle model and examine its consistency with the behavior of relative prices, and the model's implications for economic aggregates at the sectoral level.