The Role of Policymakers in Business Cycle Fluctuations 2024 pdf epub mobi 电子书

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发表于2024-12-30

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出版者:Cambridge University Press

作者:Jim Granato

出品人:

页数:316

译者:

出版时间:2006-3-13

价格:GBP 72.00

装帧:Hardcover

isbn号码:9780521860161

丛书系列:

图书标签: economics Economics

The Role of Policymakers in Business Cycle Fluctuations 2024 pdf epub mobi 电子书图书描述

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.

The Role of Policymakers in Business Cycle Fluctuations 2024 pdf epub mobi 电子书

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