Robert J. Barro

Robert J. Barro · David B. Gordon

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 …

Robert J. Barro

This 1974 Journal of Political Economy paper by Robert Barro asks whether an increase in government bonds raises households' perceived net wealth, and argues that within an overlapping-generations …

Robert J. Barro

This paper modifies the neoclassical (Ramsey) growth model so that the household's instantaneous rate of time preference can vary with the time distance to the date being valued, following the …

Robert J. Barro · David B. Gordon

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 …