money, inflation and output

money, inflation and output - McCandless & Weber (1995)...

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McCandless & Weber (1995) In the of 1946 and the of 1978 Employment Act Full Employment and Balanced Growth Act Congress instructs the Fed to “maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates” Cf. Fed's original charge of maintaining stability in the financial system when it was established in 1913 after a series of financial crises in late 1800's and early 1900's. Does, as Congress assumes, the Fed have the ability, through monetary policy, to control these economic variables?
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The Correlation Coefficient sample of pairs of observations on two variables and for 8 B C ÐB ß C Ñ 3 œ "ß á ß 8 33 sample mean of is and sample mean of is B B œB C C œC  " " 8 8 3œ" 3œ" 8 8 3 3 ±± variance is a measure of the variation or spread in the data • sample variance of is B= œ Ð B B Ñ ## B " 8" 3œ" 8 3 ± • sample variance of is C= œ Ð C C Ñ C " 8" 3œ" 8 3
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money, inflation and output - McCandless & Weber (1995)...

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