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Working Paper
The P-star model and Austrian prices
In the P-star model the price level is determined by the money stock per unit of potential output and the long-run equilibrium level of the velocity of money. This article applies this model to Austria. Problems in identifying permanent shocks to potential output and/or velocity lead to the rejection of such models of the price level, but their first-difference version is not so suspect. While evidence is found of a long-run relationship between Austria inflation and money growth, even the first-difference version of the P-star model is rejected for Austria. Since Austria is a small economy, ...
Journal Article
Should government spending on capital goods be raised?
Journal Article
The productivity problem
Journal Article
We are all supply-siders now!
Journal Article
Inventory investment in the recent recession and recover
Journal Article
Federal income tax reform in 1985: indexation
Journal Article
Energy prices and capital formation: 1972-1977
Monograph
Investment and the new energy regime
Journal Article
Energy resources and potential GNP