Monetary Policy Rules, Supply Shocks, and the Price-Level Elasticity of Aggregate Demand: A Graphical Examination.

Kyer, Ben L.; Maggs, Gary E.

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Peer reviewed

ERIC Number: EJ528573

Record Type: Journal

Publication Date: 1995

Pages: N/A

Abstractor: N/A

ISBN: N/A

ISSN: ISSN-0022-0485

EISSN: N/A

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Monetary Policy Rules, Supply Shocks, and the Price-Level Elasticity of Aggregate Demand: A Graphical Examination.

Kyer, Ben L.; Maggs, Gary E.

Journal of Economic Education, v26 n4 p364-72 Fall 1995

Utilizes two-dimensional price and output graphs to demonstrate the way that the price-level elasticity of aggregate demand affects alternative monetary policy rules designed to cope with random aggregate supply shocks. Includes graphs illustrating price-level, real Gross Domestic Product (GDP), nominal GDP, and nominal money supply targeting. (MJP)

Descriptors: Business Cycles, Capitalism, Competition, Consumer Economics, Cost Indexes, Economic Change, Economic Climate, Economics Education, Financial Policy, Free Enterprise System, Graphs, Higher Education, Monetary Systems, Public Policy, Purchasing, Supply and Demand, Visual Aids

Publication Type: Reports - Descriptive; Journal Articles

Education Level: N/A

Audience: Teachers; Researchers; Practitioners

Language: English

Sponsor: N/A

Authoring Institution: N/A

Grant or Contract Numbers: N/A

Author Affiliations: N/A