Construct · 1 fields · 1 citations

long and variable lags: a standalone construct

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Monetary economics

the claim that monetary policy affects the economy only after delays that are long and unpredictable, which argues against fine-tuning.

In monetary economics, long and variable lags refers to the claim that monetary policy affects the economy only after delays that are long and unpredictable, which argues against fine-tuning. This meaning comes from Friedman (1961) in Journal of Political Economy.[1]

Unit
Recovery means
Measured by

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Nearby constructs

fine-tuning3 fields · 6 citationsjingle · one word, three constructs policy2 fields · 4 citationsjingle · one word, two constructs variable4 fields · 4 citationsjingle · one word, four constructs

References

Friedman, M. (1961). The Lag in Effect of Monetary Policy. Journal of Political Economy, 69(5), 447-466. https://doi.org/10.1086/258537

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