Using monetary policy to stabilize economic activity,” Federal

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Using monetary policy to stabilize economic activity,” Federal (2009)

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by Carl E. Walsh

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44 - 3 self

BibTeX

@MISC{Walsh09usingmonetary,
    author = {Carl E. Walsh},
    title = {Using monetary policy to stabilize economic activity,” Federal},
    year = {2009}
}

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Abstract

Indeed, one of the first lessons one learns from studying a variety of hypothetical models is that the problem of economic stabilization is, even in principle, an extremely intricate one, and that a much more thorough investigation of both theoretical principles and empirical relationships would be needed before detailed policy recommendations could be justified. ” A. W. Phillips (1957, reprinted 1965, p. 677)

Keyphrases

monetary policy economic activity theoretical principle detailed policy recommendation hypothetical model economic stabilization first lesson empirical relationship thorough investigation

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