Estimated Effects of the October 1979 Change in Monetary Policy on the 1980 Economy
NBER Working Paper No. 538 (Also Reprint No. r0179)
On October 6. 1979, the Federal Reserve announced what most people interpreted as a change in monetary policy. The purpose of this paper is to estimate the effects of this change on the 1980-81 economy. The effects of the change are estimated from simulations with my model of the U.S. economy (1976, 1980b).
Published: Fair, Ray C. "Estimated Effects of the October 1979 Change in Monetary Policy on the 1980 Economy." The American Economic Review, Vol. 71, No. 2, (May 1981), pp. 160-165.