The role of policymakers in business cycle fluctuations / Jim Granato, M.C. Sunny Wong.
This book's central theme is that a policymaker's role is to enhance the public's ability to coordinate their price information, price expectations, and economic activities. This role is fulfilled when policymakers maintain inflation stability. Inflation persists less when an implicit...
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| Online Access: | Electronic book from EBSCO |
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| Main Author: | |
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| Format: | eBook |
| Language: | English |
| Published: | Cambridge ; New York : Cambridge University Press, 2006. |
| Subjects: |
| LEADER | 03652cam a22005174a 4500 | ||
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| 001 | ocm69407480 | ||
| 003 | OCoLC | ||
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| 082 | 0 | 4 | |a 338.5/42 |2 22 |
| 049 | |a LAFW | ||
| 100 | 1 | |a Granato, Jim, |d 1960- | |
| 245 | 1 | 4 | |a The role of policymakers in business cycle fluctuations / |c Jim Granato, M.C. Sunny Wong. |
| 260 | |a Cambridge ; |a New York : |b Cambridge University Press, |c 2006. | ||
| 300 | |a 1 online resource (xxvi, 290 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 504 | |a Includes bibliographical references (pages 251-275) and index. | ||
| 505 | 0 | |a The Interaction of Policy and Outcomes -- Coordinating Price Information -- Outcomes and Policy: An Illustration -- Policy Evolution: 1960 to 2000 -- The Role of Policymakers -- The Theoretical Model -- Policy and Aggregate Variability -- The Optimal Policymaker Role -- Coordination Dynamics -- Coordinating Inflation Forecasts -- Inflation-Stabilizing Policy: Robustness -- Conclusion and Implications. | |
| 588 | 0 | |a Print version record. | |
| 520 | |a This book's central theme is that a policymaker's role is to enhance the public's ability to coordinate 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 emphasize inflation stability, inflation uncertainty and persistence were reduced. | ||
| 506 | |a Access limited to authorized users. | ||
| 650 | 0 | |a Economic policy. | |
| 650 | 0 | |a Business cycles. | |
| 650 | 0 | |a Inflation (Finance) | |
| 655 | 0 | |a Electronic books. | |
| 700 | 1 | |a Wong, M. C. Sunny, |d 1976- | |
| 773 | |t EBSCOhost Ebook Collection. | ||
| 776 | 0 | 8 | |i Print version: |a Granato, Jim, 1960- |t Role of policymakers in business cycle fluctuations. |d Cambridge ; New York : Cambridge University Press, 2006 |z 0521860164 |w (DLC) 2005037077 |w (OCoLC)63116431 |
| 856 | 4 | 0 | |u http://ezproxy.lafayette.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=156566 |z Electronic book from EBSCO |