Construct · 1 fields · 1 citations

policy ineffectiveness proposition: a standalone construct

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Macroeconomics

the claim that under rational expectations, systematic monetary policy rules cannot affect the distribution of real output.

In macroeconomics, policy ineffectiveness proposition refers to the claim that under rational expectations, systematic monetary policy rules cannot affect the distribution of real output. This meaning comes from Sargent (1975) in Journal of Political Economy.[1]

Unit
Recovery means
Measured by

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Nearby constructs

rational expectations3 fields · 4 citationsjingle · one word 'rational,' different claims affect4 fields · 5 citationsjingle · one word, several feeling constructs distribution2 fields · 2 citationsjingle · one word, two constructs

References

Sargent, T. J., & Wallace, N. (1975). "Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule. Journal of Political Economy, 83(2), 241-254. https://doi.org/10.1086/260321

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