Measuring Excess Demand and its Impact on Inflation.
Inflation is fundamental to UK macroeconomic policy given that it is the sole target of monetary policy. However, there is no clear consensus on its determination, with a plethora of competing theories. Hendry (2001) argues that there is no single cause of inflation. This paper analyses quarterly UK...
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| Format: | Working paper |
| Language: | English |
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Department of Economics (University of Oxford)
2004
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