Inflation, Unemployment, and Monetary Policy - Hardcover

Solow, Robert M.; Taylor, John B.

4.25

8 ratings by Goodreads

9780262193979: Inflation, Unemployment, and Monetary Policy

Hardcover

ISBN 10: 0262193973 ISBN 13: 9780262193979

Publisher: Mit Pr, 1998

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The connection between price inflation and real economic activity has been a focus of macroeconomic research and debate. Although this connection is crucial to our understanding of what monetary policy can and cannot accomplish, opinions about its basic properties have swung widely over the years. Many studying monetary policy acknowledge that, contrary to what many modern macroeconomic models suggest, central bank actions often affect both inflation and measures of real economic activity, such as output, unemployment and incomes. But the nature and magnitude of these effects are not yet understood. In this volume the authors present their views on the dilemmas facing US monetary policymakers. The aim of the book is to make both an intellectual contribution to macroeconomics and a practical contribution to the solution of a public policy question of central importance.

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About the Author:

Robert M. Solow is Institute Professor of Economics.

Review:

The authors' names will make you pick it up. The thoughtgul and engaging prose won't let you put it down. Be glad, for this little book well rewards the time you spend with it.

(Alan S. Blinder, Professor of Economics, Princeton University; former Vice-Chairman of the Board of Governors of the Federal Reserve System)

Solow and Taylor, two of America's leading economists, provide clear, persuasive, and opposing answers to a critical question―how to achieve both high employment and price stability.

(Herbert Stein, Senior Fellow, American Enterprise Institute)

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