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- Title
Do the Effects of Interest Rate Changes Depend on Inflation?
- Authors
Christopoulos, Dimitris; McAdam, Peter; Tzavalis, Elias
- Abstract
The article explores the impact of interest rate changes on inflation in the U.S. Despite a recent drop in inflation, the study suggests that the effects of monetary policy depend on whether the economy is in a high or low inflation state. Historical analysis reveals distinct monetary policy regimes, emphasizing the importance of state-dependent assessments in evolving economic conditions.
- Subjects
INTEREST rates; INFLATION targeting; FISCAL policy; PRICE inflation; FEDERAL Reserve monetary policy; CONSUMER price indexes; FEDERAL funds market (U.S.)
- Publication
Economic Review (01612387), 2023, Vol 108, Issue 4, p49
- ISSN
0161-2387
- Publication type
Article