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The Credibility Effect and Rational Expectations: Implications of the Gramlich Study

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  • William Fellner

    (American Enterprise Institute)

Abstract

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Suggested Citation

  • William Fellner, 1979. "The Credibility Effect and Rational Expectations: Implications of the Gramlich Study," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 10(1), pages 167-190.
  • Handle: RePEc:bin:bpeajo:v:10:y:1979:i:1979-1:p:167-190
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    File URL: https://www.brookings.edu/wp-content/uploads/1979/01/1979a_bpea_fellner_phelps_gordon.pdf
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    Citations

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    Cited by:

    1. Roger Guesnerie, 2001. "The Government and Market Expectations," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 157(1), pages 116-126, March.
    2. Bennett T. McCallum, 1984. "Credibility and monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 105-135.
    3. Aurélien Goutsmedt & Goulven Rubin, 2018. "Robert J. Gordon and the introduction of the natural rate hypothesis in the Keynesian framework," Post-Print halshs-01821825, HAL.
    4. Neumark, David & Leonard, Jonathan S, 1993. "Inflation Expectations and the Structural Shift in Aggregate Labor-Cost Determination in the 1980s," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(4), pages 786-800, November.
    5. Robert J. Gordon, 1988. "U.S. Inflation, Labor's Share, and the Natural Rate of Unemployment," NBER Working Papers 2585, National Bureau of Economic Research, Inc.
    6. Robert J. Gordon, 1983. "Using Monetary Control to Dampen the Business Cycle: A New Set of First Principles," NBER Working Papers 1210, National Bureau of Economic Research, Inc.
    7. Charles Freedman, 1981. "Monetary Aggregates as Targets: Some Theoretical Aspects," NBER Working Papers 0775, National Bureau of Economic Research, Inc.
    8. Syahid Izzulhaq & Akhmad Syakir Kurnia, 2022. "The Credibility of Monetary Policy and Procyclical Fiscal Policy," Applied Economics and Finance, Redfame publishing, vol. 9(1), pages 121-139, December.
    9. Akhmad Syakir Kurnia & Syahid Izzulhaq & Johan Beni Maharda & Agung Kunaedi, 2021. "Inflation and Financial Stability Trade‐off: Role of Monetary Policy Credibility and Fiscal Cyclicality," Economic Papers, The Economic Society of Australia, vol. 40(1), pages 31-53, March.

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    Keywords

    macroeconomics; price shocks;

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