How Long to Read Capacity Constraints, Inflation and the Transmission Mechanism

How Long Does it Take to Read Capacity Constraints, Inflation and the Transmission Mechanism?

It takes the average reader and 39 minutes to read Capacity Constraints, Inflation and the Transmission Mechanism by Mr.Peter B. Clark

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper develops a small model of the output-inflation process in the United States in order to examine the implications of alternative monetary policy rules. In particular, two types of policy rules are considered; a myopic rule where interest rates respond contemporaneously to output and inflation and a forward-looking policy rule that exploits information about the nature of transmission mechanism in the setting of interest rates. The model has two key features. First, there are significant lags between interest rates and aggregate demand conditions. Second, the model is based on an asymmetric model of inflation where positive deviations of aggregate demand from potential are more inflationary than negative deviations are disinflationary. As a consequence of this asymmetry, a policymaker that follows a myopic policy rule and allows the economy to overheat periodically will be forced to impose large recessions on the economy to keep inflation under control. The paper shows that the estimated degree of asymmetry implies that myopic policies can result in significant permanent losses in output. By contrast, policymakers that follow a forward-looking policy rule that avoids overheating will not only reduce the variance of output but also raise the mean level of output.

How long is Capacity Constraints, Inflation and the Transmission Mechanism?

Capacity Constraints, Inflation and the Transmission Mechanism by Mr.Peter B. Clark is 38 pages long, and a total of 9,804 words.

This makes it 13% the length of the average book. It also has 12% more words than the average book.

How Long Does it Take to Read Capacity Constraints, Inflation and the Transmission Mechanism Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 53 minutes to read Capacity Constraints, Inflation and the Transmission Mechanism aloud.

What Reading Level is Capacity Constraints, Inflation and the Transmission Mechanism?

Capacity Constraints, Inflation and the Transmission Mechanism is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Capacity Constraints, Inflation and the Transmission Mechanism?

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