INFLATION, PRODUCTIVITY, AND MONETARY POLICY: ARE THEY RELATED?
Peter J. Saunders
(Professor and Chair, Department of Economics, Central Washington University, Ellensburg, WA 98926‐7486)
360
Abstract
This paper investigates the short‐run and the long‐run relationship among productivity growth, inflation and monetary policy in the U.S. economy. Under the trivariate ECM analysis, the test results indicate that it is monetary policy which plays the predominant role in the relationship under investigation.
Citation
Saunders, P.J. (1997), "INFLATION, PRODUCTIVITY, AND MONETARY POLICY: ARE THEY RELATED?", Studies in Economics and Finance, Vol. 18 No. 1, pp. 3-25. https://doi.org/10.1108/eb028734
Publisher
:MCB UP Ltd
Copyright © 1997, MCB UP Limited