Monetary Instability, the Predictability of Prices and the Allocation of Investment: An Empirical Investigation Using UK Panel Data

Paul Beaudry (), Mustafa Caglayan () and Fabio Schiantarelli ()

UBC Departmental Archives from UBC Department of Economics

Abstract: It is often argued that monetary instability reduces the informational content of market signals and thereby hinders the efficient allocation of investment. In this paper we use a signal extraction framework to give empirical content to this idea.

Keywords: MONETARY POLICY; PRICES; INFLATION; RESOURCE ALLOCATION (search for similar items in EconPapers)
JEL-codes: E20 E22 E50 E51 E52 (search for similar items in EconPapers)
Date: Written 1996
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Related works:
Working Paper: Monetary Instability, the Predictability of Prices and the Allocation of Investment: An Empirical Investigation Using UK Panel Data (1996)
Journal Article: Monetary Instability, the Predictability of Prices, and the Allocation of Investment: An Empirical Investigation Using U.K. Panel Data (2001)
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