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- W2190930649 abstract "Rudebusch and Williams (2015) conclude “A wedge in the dual mandate: Monetary policy and long-term unemployment” with the policy prescription “Optimal policy should trade off a transitory period of excessive inflation in order to bring the broader measure of underemployment to normal levels more quickly. The question that I address is whether our knowledge of the dynamics linking monetary policy, inflation and real growth is sufficiently well-developed that policy recommendations of the sort that Rudebusch and Williams proffer can be effective. I present two bodies of empirical evidence pertinent to this issue. The first has to do with the Phillips Curve itself; the second with the class of models now used to analyze the economic effects of monetary policy." @default.
- W2190930649 created "2016-06-24" @default.
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- W2190930649 date "2016-03-01" @default.
- W2190930649 modified "2023-09-27" @default.
- W2190930649 title "Comment on Rudebusch and Williams, “A wedge in the dual mandate: Monetary policy and long-term unemployment”" @default.
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- W2190930649 doi "https://doi.org/10.1016/j.jmacro.2015.08.006" @default.
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