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dc.contributor.authorBywaters, D.
dc.contributor.authorThomas, D.G.
dc.date.accessioned2009-05-28T10:26:05Z
dc.date.available2009-05-28T10:26:05Z
dc.date.issued2009
dc.identifier.citationBywaters , D & Thomas , D G 2009 ' A Monetary System of Equations with Inflationary Expectations for the USA ' UH Business School Working Paper , University of Hertfordshire .
dc.identifier.otherPURE: 80117
dc.identifier.otherPURE UUID: 4e257e0a-b4b4-4d53-8905-fbb14cc486c8
dc.identifier.otherdspace: 2299/3446
dc.identifier.urihttp://hdl.handle.net/2299/3446
dc.description.abstractThe paper is an empirical investigation that places Livingston’s expectations of the Consumer Price Index (CPI) with the rate of inflation centre stage in a monetary system of equations with real money balances, output, employment, Federal Government debt and interest rates. The modelling approach is a Vector Auto- Regressions (VARs) scheme employing quarterly, observational data sets from U.S.A, spanning the period of 1959 to 2007. One of the important tasks is to find stationary processes for the CPI and the price expectations, which entails explaining the second-differences within the error-corrections, and using first-differences in the formation of co-integrating vectors, because the agents view them as levels in the long-run.en
dc.language.isoeng
dc.publisherUniversity of Hertfordshire
dc.relation.ispartofseriesUH Business School Working Paper
dc.rightsOpen
dc.titleA Monetary System of Equations with Inflationary Expectations for the USAen
dc.contributor.institutionHertfordshire Business School
dc.contributor.institutionCentre for Research on Management, Economy and Society
dc.relation.schoolHertfordshire Business School
dcterms.dateAccepted2009
rioxxterms.typeWorking paper
herts.preservation.rarelyaccessedtrue
herts.rights.accesstypeOpen


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