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 0165-1765Full text not available from this repository.
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
|Journal or Publication Title:||Economics Letters|
|Subjects:||H Social Sciences > HB Economic Theory|
|Departments:||Lancaster University Management School > Economics|
|Deposited On:||17 Jul 2012 14:22|
|Last Modified:||31 Mar 2016 01:30|
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