Inflation Dynamics and Time-Varying Volatility: New Evidence and an Ss Interpretation
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下载链接：
https://www.nber.org/papers/w19148
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资源简介：
Is monetary policy less effective at increasing real output during periods of high volatility than during normal times? In this paper, I argue that greater volatility leads to an increase in aggregate price flexibility so that nominal stimulus mostly generates inflation rather than output growth. To
提供机构：
美国国家经济研究局
创建时间：
2013-06-01
