Price Expectations and the Behavior of the Price Level: Lectures Given in the University of ManchesterManchester University Press, 1969 - Počet stran: 50 |
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Price Expectations and the Behavior of the Price Level: Lectures Given in ... Robert M. Solow Zobrazení fragmentů - 1969 |
Price Expectations and the Behavior of the Price Level: Lectures Given in ... Robert M. Solow Zobrazení fragmentů - 1969 |
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actual rate adaptive expectations adjustment aggregate demand aggregate supply annual regressions average behavior capacity utilization change in unit Cobb-Douglas coefficient of ulc constant correlation currently expected rate demand pressure depend determinant Diagram economy effect elasticity equilibrium falls farm prices Friedman higher real wage implication incomes policies increasing function index of capacity Korean War labor market lags less level of output level of real long-run coefficient marginal money illusion money wage rates monopsony natural rate nonlinear output and employment Paish index parameters particular real configuration percentage points permanent trade-off equation price equation price index price inflation price level production function proportional change quarter quarterly regressions rate of change rate of inflation real output real wage rate Regression Coefficients regular inflation sample period share of wages short run standard error statistical strict expectations hypothesis suppose tion underemployment equilibrium unemployment rate unit labor costs UNIVERSITY OF MANCHESTER zero