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November 1980

Posted 1980-11-01

The "Rationality" of Survey-Based Inflation Forecasts

by R. W. Hafer and David H. Resler

The notion that economic agents rationally form their expectations about future economic events has emerged as a critically important hypothesis with profound implications for macroeconomic policy.

Posted 1980-11-01

Monetary Aggregates as Monetary Indicators

by Keith M. Carlson and Scott E. Hein

Early this year, the Federal Reserve Board announced a redefinition of the monetary aggregates. In some cases, the differences between the old and new money measures are quite substantial.