Download This PaperPrecursors of the P-Star Model
FRB Richmond Economic Review, Vol. 75, No. 4, July/August 1989, pp. 3-9
7 Pages Posted: 2 Nov 2012
Date Written: 1989
Abstract
The Federal Reserve Board's P-Star inflation forecasting model predicts changes in inflation from the gap between actual and equilibrium prices. The model has a distinguished history. Quantity theorists from David Hume to Milton Friedman have long used versions of it to explain how money stock changes determine price level changes with a lag.
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Stability of Velocity in the Group of Seven Countries: A Kalman Filter Approach
-
P* Type Models: Evaluation and Forecasts
By R. A. Pecchenino and Robert Rasche
-
A Distant-Early-Warning Model of Inflation Based on M1 Disequilibria
By Jamie Armour, Walter Engert, ...
-
The P-Star Approach to the Link between Money and Prices
By John Tatom
-
The Dynamics of Money Demand and Prices
By Liam Ebrill and Steven Fries
-
The Link between Monetary Aggregates and Prices
By John Tatom
-
The P-Star Model and Austrian Prices
By John Tatom