The conquest of American inflation /
Sargent, Thomas J.
The conquest of American inflation / Thomas J. Sargent. - Princeton, N.J. : Princeton University Press, c1999. - xiv, 148 p. : ill. ; 24 cm.
Includes bibliographical references (p. [137]-144) and indexes.
The rise and fall of U.S. inflation --
Ignoring the Lucas critique --
The credibility problem --
Credible government policies --
Adaptive expectations (1950's) --
Optimal misspecified beliefs --
Self-confirming equilibria --
Adaptive expectations (1990's) --
Econometric policy evaluation --
Triumph or vindication? TOC
In The Conquest of American Inflation, Thomas J. Sargent presents an analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation. Providing an original methodological link between theoretical and policy economics, this book will engender much debate and become an indispensable text for academics, graduate students, and professional economists.
0691004145 (alk. paper) 9780691004143
98038410
Inflation (Finance)--United States.
HG540 / .S27 1999
332.410973 / SAC 1999
The conquest of American inflation / Thomas J. Sargent. - Princeton, N.J. : Princeton University Press, c1999. - xiv, 148 p. : ill. ; 24 cm.
Includes bibliographical references (p. [137]-144) and indexes.
The rise and fall of U.S. inflation --
Ignoring the Lucas critique --
The credibility problem --
Credible government policies --
Adaptive expectations (1950's) --
Optimal misspecified beliefs --
Self-confirming equilibria --
Adaptive expectations (1990's) --
Econometric policy evaluation --
Triumph or vindication? TOC
In The Conquest of American Inflation, Thomas J. Sargent presents an analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation. Providing an original methodological link between theoretical and policy economics, this book will engender much debate and become an indispensable text for academics, graduate students, and professional economists.
0691004145 (alk. paper) 9780691004143
98038410
Inflation (Finance)--United States.
HG540 / .S27 1999
332.410973 / SAC 1999