2005, English, Article, Working paper edition: The incredible Volcker disinflation [electronic resource] / Marvin Goodfriend, Robert King. Goodfriend, Marvin.

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Bookmark: http://trove.nla.gov.au/version/18685196
Published
  • Cambridge, MA : National Bureau of Economic Research, c2005.
Language
  • English

Edition details

Title
  • The incredible Volcker disinflation /​ Marvin Goodfriend, Robert King.
Author
  • Goodfriend, Marvin.
Other Authors
  • King, Robert G. (Robert Graham)
  • National Bureau of Economic Research.
Published
  • Cambridge, MA : National Bureau of Economic Research, c2005.
Medium
  • [electronic resource]
Series
Subjects
Summary
  • "Using a simple modern macroeconomic model, we argue that the real effects of the Volcker disinflation in the early 1980s were mainly due to imperfect credibility, evident in volatility and stubbornness of long-term interest rates. Studying recently released transcripts of the Federal Open Market Committee, we find-- to our surprise-- that Volcker and other FOMC members also regarded long-term interest rates as key indicators of inflation expectations and of their disinflationary policy's credibility. We also consider the interplay of monetary targets, operating procedures, and credibility during the Volcker disinflation"--National Bureau of Economic Research web site.
Notes
  • Title from PDF file as viewed on 8/​31/​2005.
  • Includes bibliographical references.
  • Also available in print.
Technical Details
  • System requirements: Adobe Acrobat Reader
  • Mode of access: World Wide Web
Language
  • English
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