- Abstract:
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Can the story of evolving Federal Reserve beliefs in The Conquest of American Inflation simultaneously explain the Great Inflation and the forecasts published in the Greenbook during that time? If Sargent is correct then evolving beliefs should be reflected not only in policy outcomes but also in Greenbook forecasts. In this paper they are. By conditioning on the Greenbook, it is show that both inflation outcomes and Greenbook forecasts can be rationalised by evolving beliefs. The...
Expand abstract - Publication status:
- Published
- Peer review status:
- Not peer reviewed
- Version:
- Author's Original
- Files:
-
-
(pdf, 368.0KB)
-
- Publisher copy:
- 10.1016/j.jmoneco.2009.06.003
-
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- Publisher:
- Elsevier B.V. Publisher's website
- Journal:
- Journal of Monetary Economics Journal website
- Volume:
- 56
- Issue:
- 6
- Publication date:
- 2009-09-05
- DOI:
- URN:
-
uuid:32fecf09-f043-492e-8eb8-dbc21e7a7eff
- Local pid:
- oai:economics.ouls.ox.ac.uk:15148
- Language:
- English
- Copyright holder:
- Elsevier B.V.
- Copyright date:
- 2009
- Notes:
- © 2009 Elsevier B.V. All rights reserved. This is a pre-print version.
Journal article
The Great Inflation and the Greenbook.
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