| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965518 | Journal of Macroeconomics | 2012 | 14 Pages |
Abstract
⺠I argue that the Great Moderation can be explained by an overhaul of Federal Reserve doctrine. ⺠This position is supported by public and private statements by Arthur Burns. ⺠Empirical evidence provides additional support for the overhaul of doctrine hypothesis. ⺠Estimated policy rules can explain reduction in volatility of output and inflation. ⺠Fed as inflation creator rather than inflation fighter.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Joshua R. Hendrickson,