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ADMINISTERED INFLATION: A REAPPRAISAL
Author(s) -
LUSTGARTEN STEVEN
Publication year - 1975
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1975.tb00987.x
Subject(s) - inflation (cosmology) , economics , econometrics , empirical examination , empirical research , test (biology) , keynesian economics , positive economics , actuarial science , statistics , mathematics , paleontology , physics , theoretical physics , biology
Several empirical studies have tested and confirmed the administered inflation hypothesis for both the United States and Canada. A close examination of these tests reveals that different authors using similar methods and data sources have reported opposite test results as support for the same theory. This suggests a reconsideration of the theory and the methods of prior tests. This study presents some theoretical objections to the concept of administered inflation, points out several inconsistencies in previous empirical tests and retests the data.