The conquest of American inflation
In The Conquest of American Inflation, Thomas J. Sargent presents an analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural rate hypothesis joined to the Lucas critique and a more tradi...
Princeton, N.J. ; Oxford :
Princeton University Press,
|Series:||Book collections on Project MUSE.
Table of Contents:
- The rise and fall of U.S. inflation
- Ignoring the Lucas critique
- The credibility problem
- Credible government policies
- Adaptive expectations (1950's)
- Optimal misspecified beliefs
- Self-confirming equilibria
- Adaptive expectations (1990's)
- Econometric policy evaluation
- Triumph or vindication?