On the Interpretation of Near Random-Walk Behavior in GNP
收藏NBER1987-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2364
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资源简介：
It is shown that GNP will have an autoregressive root very close to unity in a variant of Taylor's (1980a,b) overlapping wage contracts model, for stylized versions of simple money supply rules and plausible values for the model's parameters. In this variant, monetary policy is the only reason for
提供机构：
美国国家经济研究局
创建时间：
1987-08-01
