Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - On dynamic stability in monetary models which incorporate short- and long-run expectations of inflation in the demand for the money function
AU - Peel, David
PY - 1979
Y1 - 1979
N2 - The demand for money function should depend on the long-run rate of inflation. A model of macroeconomic fluctuations based on short-run unanticipated inflation is used, together with adaptive expectations to develop conditions for price stability. It is shown that Cagan's conditions are neither necessary nor efficient
AB - The demand for money function should depend on the long-run rate of inflation. A model of macroeconomic fluctuations based on short-run unanticipated inflation is used, together with adaptive expectations to develop conditions for price stability. It is shown that Cagan's conditions are neither necessary nor efficient
U2 - 10.1016/0165-1765(79)90160-5
DO - 10.1016/0165-1765(79)90160-5
M3 - Journal article
VL - 2
SP - 131
EP - 136
JO - Economics Letters
JF - Economics Letters
SN - 0165-1765
IS - 2
ER -