Inside lag

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In economics, an inside lag (an inside recognition and decision lag) is the amount of time it takes for a government or a central bank to respond to a shock in the economy. Its converse is outside lag (the amount of time before an action by a government or a central bank affects an economy). Inside lag comprises recognition lag, the time taken to recognize the shock, and decision lag (or implementation lag), the time taken to decide a response.^[1]

[edit] References

1. ^ INSIDE LAG. AmosWEB GLOSS*arama. AmosWEB LLC. Retrieved on 2006-12-30.

[edit] Further reading

• Patric H. Hendershott (October 1966). "The Inside Lag in Monetary Policy: A Comment". The Journal of Political Economy 74 (5): 519–523. doi:10.1086/259205. 
• William R. Bryan (September 1967). "Bank Adjustments to Monetary Policy: Alternative Estimates of the Lag". The American Economic Review 57 (4): 855–864. 
• W Schneider (1968). "The inside lag in the monetary policy of the United States, 1952-1965". . New York University
• Mark H. Willes (December 1967). "The Inside Lags of Monetary Policy: 1952-1960". The Journal of Finance 22 (4): 591–593. doi:10.2307/2326003. 
• James E. Alt and John T. Woolley (November 1982). "Reaction Functions, Optimization, and Politics: Modelling the Political Economy of Macroeconomic Policy". American Journal of Political Science 26 (4): 709–740. doi:10.2307/2110969.