Professor Vasco Carvalho has picked up on Milton Friedman’s famous dictum concerning ‘long and variable lags’, that monetary actions affect economic conditions only after a lag that is both long and variable,
An academic at the Faculty of Economics is a co-author of a paper published in VoxEU, which examines the short-term effects of changes to monetary tightening, and find it does have notable impacts
Professor Vasco Carvalho has picked up on Milton Friedman’s famous dictum concerning ‘long and variable lags’, that monetary actions affect economic conditions only after a lag that is both long and variable,
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