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Money and Income: Post Hoc Ergo Propter Hoc?

James Tobin
- 01 May 1970 - 
- Vol. 84, Iss: 2, pp 301-317
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TLDR
An ultra-Keyniesian model, 303 as discussed by the authors, and a Friedman model, 310, were used to compare timing implications, and they showed that timing implications are strongly correlated.
Abstract
An ultra-Keyniesian model, 303. — A Friedman model, 310. — Comparisons of timing implications, 314.

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Journal ArticleDOI

Empirical evidence on the rational expectations hypothesis using reported expectations

Karl Aiginger
- 01 Mar 1981 - 
TL;DR: In this article, the Hypothese der Rationalen Erwartungen an Hand von empirisch erhobenen Erwungsdaten is investigated, i.e., the Rationalitat der Erwundungen durch den Verlauf von “objektiven” Daten getestet wird (durch Uberprufung einer Erklarungshypothese).
Journal ArticleDOI

Determining the role of banks in the financing of innovative development processes of the economy

TL;DR: In this article, the authors investigated the role of banks in the development of the Ukrainian economy and their role in the creation of new paradigms in the theory of financial intermediation.
ReportDOI

Pride Goes Before a Fall: Federal Reserve Policy and Asset Markets

TL;DR: The authors show that changes in the short-term policy interest rate have no systematic effect on either long-term interest rates or housing prices over nearly a century, and that since the mid-1990s, the policy rate had a negative relationship with long term interest rates.
Journal ArticleDOI

The cyclical effects of monetary policy regimes

TL;DR: In this paper, a model is developed to assess the quantitative importance of a change in monetary policy in accounting for these observations, and the monetary authority's reaction function is estimated conditionally on the theoretical model and accounts for upward of 72-95% of all observed changes, including inside money preceding the business cycle and a qualitative change in the cyclical behavior of the monetary base.
Book ChapterDOI

On the Monetization of Deficits

TL;DR: A government deficit is said to be monetized when the central bank purchases the bonds the government issues to cover its deficit as mentioned in this paper, and there is considerable evidence that this supposition is correct.