Some unpleasant monetarist arithmetic by Thomas J. Sargent and Neil Wallace. “The purpose of this paper is to argue that, even in an economy that satisfies monetarist assumptions, if monetary policy is interpreted as open market operations, then Friedman´s…
Business cycle modeling without pretending to have too much a priori economic theory by Thomas J. Sargent and Christopher A. Sims. This paper illustrares the application of a certain class of time series model macroeconomics. One motivation for this…
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Latin American Inflation (Sargent, Williams and Zha)
out 7, 2008, 10:49 AM 0
The conquest of South American inflation by Thomas Sargent, Noah Williams and Tao Zha. “This paper formulates a nonlinear stochastic model of inflation, inflationary ex-pectations, and money-creation-financed deficits and uses the implied density for the history of inflation to…