The Role of Policymakers in Business Cycle Fluctuations 在线电子书 pdf 下载 txt下载 epub 下载 mobi 下载 2024


The Role of Policymakers in Business Cycle Fluctuations

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Jim Granato 作者
Cambridge University Press
译者
2006-3-13 出版日期
316 页数
GBP 72.00 价格
Hardcover
丛书系列
9780521860161 图书编码

The Role of Policymakers in Business Cycle Fluctuations 在线电子书 图书标签: economics  Economics   


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发表于2024-08-06


The Role of Policymakers in Business Cycle Fluctuations 在线电子书 epub 下载 mobi 下载 pdf 下载 txt 下载 2024

The Role of Policymakers in Business Cycle Fluctuations 在线电子书 epub 下载 mobi 下载 pdf 下载 txt 下载 2024

The Role of Policymakers in Business Cycle Fluctuations 在线电子书 pdf 下载 txt下载 epub 下载 mobi 下载 2024



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The book’s central theme is that a policymaker’s role is to enhance the public’s ability to co-ordinate their price information, price expectations, and economic activities. This role is fulfilled when policymakers maintain inflation stability. Inflation persists less when an implicit or explicit inflation target is met. Granato and Wong argue that inflation persistence is reduced when the public substitutes the prespecified inflation target for past inflation. A by-product of this co-ordination process is greater economic stability. In particular, inflation stability contributes to greater economic output stability, including the potential for the simultaneous reduction of both inflation and output variability - inflation-output co-stabilization (IOCS). Granato and Wong use historical, formal, and applied statistical analysis of business-cycle performance in the United States for the 1960 to 2000 period. They find that during periods when policymakers emphasise inflation stability, inflation uncertainty and persistence were reduced.

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