By John T. Woolley
This can be the 1st booklet to explain and study the relationships among the Federal Reserve and the president, Congress, bankers, and economists. faraway from being politically self reliant, the Federal Reserve is proven to be delicate to a variety of political impacts.
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Additional resources for Monetary Politics: The Federal Reserve and the Politics of Monetary Policy
36 Money Growth and Inﬂation in the Euro Area 9 See Crowley (2005) for a discussion of wavelet analysis in economics. 10 The discussion in Gerlach (2004) suggests that this result arises because ﬁltered real output growth is correlated with the output gap. 11 See European Central Bank (2001, p. 42) for a discussion of money growth and inﬂation expectations. 12 Lucas (1980) presents frequency-domain evidence for US data in support of this proposition. 13 Reynard (2005) shows that accounting for changes in velocity is critical for understanding the relationship between money growth and inﬂation in the euro area and in the US since the 1970s.
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Barnett, J. E. Tauchen (eds), Nonparametric and Semiparametric Methods in Economics and Statistics.