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- W1504987637 abstract "This paper analyzes the effects of monetary and fiscal policies in a simple dynamic macroeconomic model under the assumption that inflationary expectations satisfy perfect myopic foresight. While many of its properties can be obtained analytically, a good deal of indeterminacy remains and further insights are obtained by supplementing the formal analysis with consistently constructed numerical examples. The dynamics of the system is critically dependent upon the financial policy chosen by the government to finance its deficit and several policies are considered. In some cases stability is consistent with continuous adjustment from some initial point: in other cases some initial discontinuous jump is required in order to ensure stability. Both types of adjustment are discussed, where appropriate." @default.
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- W1504987637 date "1980-01-01" @default.
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- W1504987637 title "Perfect myopic foresight and the effects of monetary and fiscal policy in a simple inflationary model" @default.
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- W1504987637 doi "https://doi.org/10.1016/0014-2921(80)90020-3" @default.
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