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Interest rate effects on borrowed
bank reserves, desired excess reserves, and perhaps time deposit
liabilities which produce a positive relationship between the money supply
and the interest rate.
The check to the strength of
fiscal ease applications which occurs because interest rates rise and
diminish interest sensitive expenditures.
An extension of the price
and wage control concept which places ceilings on profits and other types
of income.
The hypothesis which holds
that the unemployment rate will not remain below its natural level in the
long term regardless of the steady-state inflation rate produced by overly
expansive demand management policies. It may move below its natural level
in the short term, however, during the period in which expected inflation
falls short of actual inflation.
For the United States,
everyone except the U.S. Treasury, the Federal Reserve, and commercial
banks.
A curve fitted to plottings
of the percent increase in money wages (or prices) against the unemployment
rate.
The hypothesis that the
stabilization authorities face a trade-off between unemployment rate and
inflation rate when using monetary and fiscal policies alone, a trade-off
arising from wage-push pressures which become stronger as aggregate demand
expands relative to full-employment output.
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