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- Title
Escaping Nash and volatile inflation.
- Authors
Ellison, Martin; Yates, Tony
- Abstract
The article presents a summary of the working paper "Escaping Nash and volatile inflation," by Martin Ellison and Tony Yates. According to the authors, the story presented is built on a story from "The Conquest of American Inflation," by Tom Sargent. Few modifications are only made to elaborate why the volatility of inflation seems to be high when the level of inflation is high, and vice versa. This proposed model, if taken to real world, can allegedly offer valid reasons behind inflation.
- Subjects
PRICE inflation; CONQUEST of American Inflation, The (Book); MARKET volatility; FINANCIAL markets; ELLISON, Martin; YATES, Toni
- Publication
Bank of England Quarterly Bulletin, 2007, Vol 47, Issue 3, p419
- ISSN
0005-5166
- Publication type
Article