Monetary Policy Rules, Supply Shocks, and the Price-Level Elasticity of Aggregate Demand: A Graphical Examination
Document Type
Article
Publication Date
1995
Abstract
The manner in which the price-level elasticity of aggregate demand affects alternative monetary policy rules designed to cope with random aggregate supply shocks is demonstrated in the two-dimension price and output graphs found in macroeconomics textbooks.
DOI
https://doi.org/10.1080/00220485.1995.10844887
Publication Information
Kyer, Ben L. and Maggs, Gary E. (1995). "Monetary Policy Rules, Supply Shocks, and the Price-Level Elasticity of Aggregate Demand: A Graphical Examination." The Journal of Economic Education 26.4, 364-372.
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