Topic
Inside lag
About: Inside lag is a research topic. Over the lifetime, 2 publications have been published within this topic receiving 8 citations.
Papers
TL;DR: In this article, the authors discuss the theoretical aspect of the phenomenon of lag in the application of the measures of monetary policy and the effect of macroeconomic aggregates on the performance of monetary and fiscal policies.
Abstract: This paper discusses the theoretical aspect of the phenomenon of lag in the application of the measures of monetary policy. Monetary and fiscal policy faces the phenomenon of lag. One of the controversial and pressing questions of monetary policy is the nature and length of lag between the application of the measures of monetary policy and the effects on macroeconomic aggregates. While the monetary strategy points to several possible reasons for the lag, there is no general agreement on the length of the lag. The study of the phenomenon of lag imposes two questions: what does the lag of the application of monetary processes and policy imply and why are the asset holders not capable of immediately adjusting their portfolios at the time of disbalance? There are two categories of lag known in economic literature: the inside lag (which encompasses the recognition of the problem and the implementation of measures) and the outside lag (which encompasses the reaction of macroeconomic aggregates to the applied measures of monetary policy). The paper descriptively notes the different identifications of time lag and provides schematic representations of the effects of the observed phenomenon.
11 citations
TL;DR: It is interesting to contrast the Kareken-Solow conclusions on the lag of monetary policy with the more recent work of Brunner and Meltzer, where Kareken and Solow report an "inside recognition and decision lag" by the Fed of something like three months.
Abstract: Finally, it is interesting to contrast the Kareken-Solow conclusions on the lag of monetary policy with the more recent work of Brunner and Meltzer, Whereas Kareken and Solow report an "inside recognition and decision lag" by the Fed of something like three months, as I read them, Brunner and Meltzer claim that the inside recognition lag is essentially zero, as is the lag between recognition and action, but that the lag between recognition and elective action is essentially infinite. Strotz reports that Kareken and Solow are very cautious in drawing any firm conclusion. Of course, Brunner and Meltzer have no such timidity about drawing conclusions. [Italics are Meiselman's (1967).1'
3 citations
Performance Metrics
| Year | Papers |
|---|---|
| 2012 | 1 |
| 1966 | 1 |