Macroeconomist listed as affiliated with the Rochester Center for Economic Research at the University of Rochester, working on monetary policy, fiscal policy and macro theory.
Barro and Gordon build a positive (not merely normative) theory of monetary policy in a natural-rate model, aiming to reconcile two stylized facts -- inflation and money growth that are persistently …
This 1983 Journal of Monetary Economics paper by Robert Barro and David Gordon shows that a monetary authority acting with full discretion each period will generate more inflation on average than one …