| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14895 |
| 来源ID | Working Paper 14895 |
| The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes | |
| Riccardo DiCecio; Edward Nelson | |
| 发表日期 | 2009-04-16 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We argue that the Great Inflation experienced by both the United Kingdom and the United States in the 1970s has an explanation valid for both countries. The explanation does not appeal to common shocks or to exchange rate linkages, but to the common doctrine underlying the systematic monetary policy choices in each country. The nonmonetary approach to inflation control that was already influential in the United Kingdom came to be adopted by the United States during the 1970s. We document our position by examining official policymaking doctrine in the United Kingdom and the United States in the 1970s, and by considering results from a structural macroeconomic model estimated using U.K. data. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy |
| URL | https://www.nber.org/papers/w14895 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572571 |
| 推荐引用方式 GB/T 7714 | Riccardo DiCecio,Edward Nelson. The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14895.pdf（306KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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