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On dynamic stability in monetary models which incorporate short- and long-run expectations of inflation in the demand for the money function

Peel, David (1979) On dynamic stability in monetary models which incorporate short- and long-run expectations of inflation in the demand for the money function. Economics Letters, 2 (2). pp. 131-136. ISSN 0165-1765

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Abstract

The demand for money function should depend on the long-run rate of inflation. A model of macroeconomic fluctuations based on short-run unanticipated inflation is used, together with adaptive expectations to develop conditions for price stability. It is shown that Cagan's conditions are neither necessary nor efficient

Item Type: Article
Journal or Publication Title: Economics Letters
Subjects: H Social Sciences > HB Economic Theory
Departments: Lancaster University Management School > Economics
ID Code: 55910
Deposited By: ep_importer_pure
Deposited On: 17 Jul 2012 14:22
Refereed?: Yes
Published?: Published
Last Modified: 09 Apr 2014 23:49
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/55910

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