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Keywords:Prices 

Journal Article
A simple model of Irving Fisher's price-level stabilization

Fishers advice to the policymakers: Adjust the money stock to correct price-level deviations from target. He neglected to say whether money should respond (1) to the gap between actual and target prices, (2) to the gaps rate of change, (3) to the gaps cumulative value over time, or (4) to some combination of these. While all four versions of Fishers rule deliver price stability in the model presented here, the first does so more promptly and smoothly than the others and outperforms a constant money-stock rule as well.
Economic Review , Volume 78 , Issue Nov , Pages 12-18

Journal Article
An analysis of Federal Reserve pricing

An abstract for this article is not available
Economic Review , Volume 72 , Issue Mar , Pages 3-19

Journal Article
A mandate for price stability

The Neal Resolution, now in Congress, would make price stability the dominant goal of monetary policy. The first of these two articles holds that policymakers discretion over the price level increases political conflict. Further, it argues that removing this discretion would restore the dollar to the role envisioned by the Framers of the Constitution. The second article proposes an instrument for measuring inflation expected by the market and argues that such a measure would encourage monetary policy-makers to maintain price stability.
Economic Review , Volume 76 , Issue Mar , Pages 45-53

Journal Article
Maintaining price stability: a proposal

The Neal Resolution, now in Congress, would make price stability the dominant goal of monetary policy. The first of these two articles holds that policymakers discretion over the price level increases political conflict. Further, it argues that removing this discretion would restore the dollar to the role envisioned by the Framers of the Constitution. The second article proposes an instrument for measuring inflation expected by the market and argues that such a measure would encourage monetary policy-makers to maintain price stability.
Economic Review , Volume 76 , Issue Mar , Pages 53-55

Journal Article
Dennis H. Robertson and the monetary approach to exchange rates

Economic Review , Volume 66 , Issue May , Pages 19-26

Journal Article
Commodity prices as predictors of aggregate price change

Many analysts have advocated using commodity prices as a guide for monetary policy. A necessary condition is that changes in commodity prices are good predictors of future aggregate price changes. This paper examines that proposition. It shows that while commodity prices can help produce more accurate inflation forecasts, the amount of improvement is small.
Economic Review , Volume 74 , Issue Nov , Pages 3-11

Journal Article
Macroeconomic price indexes

Price Indexes allow one to compare the average levels of prices at different times. Despite their widespread use, price indexes do not answer all questions as well as analysts might wish. Macroeconomic Price Indexes is a guide for users of major price indexes. It provides details about several price indexes to help users intelligently decide what they can learn by using particular indexes.
Economic Review , Volume 75 , Issue Jul , Pages 22-32

Journal Article
Precursors of the P-star model

The Federal Reserve Boards P-Star inflation forecasting model predicts changes in inflation from the gap between actual and equilibrium prices. The model has a distinguished history. Quantity theorists from David Hume to Milton Friedman have long used versions of it to explain how money stock changes determine price level changes with a lag.
Economic Review , Volume 75 , Issue Jul , Pages 3-9

Journal Article
Forecasts 1974

Economic Review , Volume 60 , Issue Mar

Journal Article
Federal Reserve: How not to stop inflation

Econ Focus , Volume 9 , Issue Sum , Pages 2-7

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