MARC Record from Scriblio

LEADER: 02198cam 22003617a 4500
001 2005615886
003 DLC
005 20050126155224.0
007 cr |||||||||||
008 050126s2004 mou sb f000 0 eng
010 $a 2005615886
040 $aDLC$cDLC
043 $an-cn---$au-at---$au-nz---
050 00 $aHB1
100 1 $aNelson, Edward,$d1971-
245 10 $aMonetary policy neglect and the great inflation in Canada, Australia, and New Zealand$h[electronic resource] /$cby Edward Nelson.
260 $a[St. Louis, Mo.] :$bFederal Reserve Bank of St. Louis,$c[2004]
490 1 $aWorking paper ;$v2004-008A
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 1/26/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"This paper studies the Great Inflation in Canada, Australia, and New Zealand. Newspaper coverage and policymakers' statements are used to analyze the views on the inflation process that led to the 1970s macroeconomic policies, and the different movement in each country away from 1970s views. I argue that to understand the course of policy in each country, it is crucial to use the monetary policy neglect hypothesis, which claims that the Great Inflation occurred because policymakers delegated inflation control to nonmonetary devices. This hypothesis helps explain why, unlike Canada, Australia, and New Zealand continued to suffer high inflation in the mid-1980s. The delayed disinflation in these countries reflected the continuing importance accorded to nonmonetary views of inflation"--Federal Reserve Bank of St. Louis web site.
650 0 $aMonetary policy$zCanada.
650 0 $aMonetary policy$zAustralia.
650 0 $aMonetary policy$zNew Zealand.
650 0 $aInflation (Finance)$zCanada.
650 0 $aInflation (Finance)$zAustralia.
650 0 $aInflation (Finance)$zNew Zealand.
710 2 $aFederal Reserve Bank of St. Louis.
830 0 $aWorking paper (Federal Reserve Bank of St. Louis : Online) ;$v2004-008A.
856 40 $uhttp://research.stlouisfed.org/wp/more/2004-008/