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Inflation Policy and Unemployment Theory.
On the Effects of Fiscal and Monetary Policy: Completing the Taxonomy
THE INTEREST‐INDUCED WEALTH EFFECT AND THE BEHAVIOR OF REAL AND NOMINAL INTEREST RATES: A COMMENT
The Interest-Induced Wealth Effect and the Behavior of Real and Nomial Interest Rates: A Comment
NAIRU Uncertainty and Nonlinear Policy Rules
Meyer (1999) has suggested that episodes of heightened uncertainty about the NAIRU may warrant a nonlinear policy response to changes in the unemployment rate. This paper offers a theoretical justification for such a nonlinear policy rule, and provides some empirical evidence on the relative performance of linear and nonlinear rules when there is heightened uncertainty about the NAIRU.