Publisher Summary Different long-run rates of growth of money supply are eventually
reflected in different rates of inflation. Tobin studied this in a simple descriptive model with …

This paper examines the magnitude of informational problems associated with the implementation
and interpretation of simple monetary policy rules. Using Taylor's rule as an example, …

We examine the reliability of alternative output detrending methods, with special attention to
the accuracy of real-time estimates of the output gap. We show that ex post revisions of the …

This study investigates the implications of noisy information regarding the measurement of
economic activity for the evaluation of monetary policy. Using a simple model of the US …

Herbs are usually marketed as dry due to a consumer demand beyond their seasonality;
dehydration leads to a stable, easily moveable product that is available throughout the year. …

We perform an empirical investigation of the macroeconomic consequences of international
terrorism and interactions with alternative forms of collective violence. Our analysis is based …

In recent years, activist monetary policy rules responding to inflation and the level of economic
activity have been advanced as a means of achieving effective output stabilization without …

This study examines the usefulness of the Taylor-rule framework as an organizing device
for describing the policy debate and evolution of monetary policy in the United States. …

Rational expectations provide an elegant and powerful framework that has come to dominate
thinking about the dynamic structure of the economy and econometric policy evaluation …

We present a theory of rational behavior in which individuals maximize a set of stable preferences
over goods with unknown addictive power. The theory is based on three fundamental …