Inflationary expectations and the natural rate hypothesis
During the last decade, as a response to the accelerating inflation and the persistingly high unemployment rates, microeconomic theory has experienced a rapid and fruitful development. One of the most challenging features of modern macro theory has been the emphasis on the role of inflationary expec...
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| Format: | Doctoral Thesis |
| Language: | English |
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Handelshögskolan i Stockholm, Samhällsekonomi (S)
1979
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| Online Access: | http://urn.kb.se/resolve?urn=urn:nbn:se:hhs:diva-805 http://nbn-resolving.de/urn:isbn:91-7258-112-3 |
| Summary: | During the last decade, as a response to the accelerating inflation and the persistingly high unemployment rates, microeconomic theory has experienced a rapid and fruitful development. One of the most challenging features of modern macro theory has been the emphasis on the role of inflationary expectations, and the hypothesis that unemployment cannot in the long run be reduced below a certain, "natural", rate. Parallel to this development of economic theory, there has been a rapid development of the statistical and mathematical methods available for analyzing macroeconomic phenomena. In this dissertation a time series approach is taken to the analysis of inflation and unemployment, and the effects of inflationary expectations are studied by means of methods developed for the analysis of stochastic processes. === Diss. Stockholm : Handelshögskolan, 1979 |
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