Can unemployment be reduced without violating the inflation target?

Australian Economic Review

Volumn 32, Issue 1, 1999, Pages 89-95

  McDonald, Lan M ^a  

^a UNIVERSITY OF MELBOURNE   (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0012163103     PISSN: 00049018     EISSN: None     Source Type: Journal    
DOI: 10.1111/1467-8462.00097     Document Type: Article

References (10)

1. Barro, R. J. & Gordon, D. B. 1983, 'A positive theory of monetary policy in a natural rate model', Journal of Political Economy, vol. 91, pp. 589-610.
2. Bean, C. 1998, 'The convex Phillips curve and macroeconomic policymaking under uncertainty', mimeo, London School of Economics.
3. Gruen, D., Pagan, A. & Thompson, C. 1998, The Phillips curve in Australia', mimeo, Reserve Bank of Australia, Sydney.
4. Lowe, P. 1997, 'Introduction', in Monetary Policy and Inflation Targeting, ed. P. Lowe, Reserve Bank of Australia, Sydney.
5. McDonald, I. M. & Sibly, H. 1998, 'Loss aversion and the non-neutrality of money', avail-able at http://ww\v.ecom.unimelb.cdu.au/ ecowww/imcdonald/iper.html.
6. Myagkov, M. & Plott, C. R. 1997, 'Exchange economics and loss exposure: Experiments exploring prospect theory and competitive behaviour equilibria in market environments', American Economic Review, vol. 87, pp. 801-28.
7. Reserve Bank of Australia 1998a, The implication of recent changes to the consumer price index for monetary policy and the inflation target', Reserve Bank of Australia Bulletin, October, pp. 1-5.
8. Reserve Bank of Australia 1998b, 'Semiannual statement on monetary policy', Reserve Bank of Australia Bulletin, November, pp. 1-48.
9. Solow, R. M. 1998, 'How cautious must the fed be?', in Inflation, Unemployment and Monetary Policy, ed. B. Friedman, MIT Press, Cambridge, Massachusetts.
10. Stiglitz, J. 1997, 'Reflections on the natural rate hypothesis', Journal of Economic Perspectives, vol. 11, no. 1, pp. 3-10.