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Optimal disinflation under learning
Cogley, Timothy; Matthes, Christian; Sbordone, Argia M. - Federal Reserve Bank of New York - 2011
We model transitional dynamics that emerge after the adoption of a new monetary policy rule. We assume that private agents learn about the new policy via Bayesian updating, and we study how learning affects the nature of the transition and the choice of a new rule. Temporarily explosive dynamics...
Persistent link: https://www.econbiz.de/10009366987
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The macroeconomics of trend inflation
Ascari, Guido; Sbordone, Argia M. - Federal Reserve Bank of New York - 2013
volatile and unstable economy and tends to destabilize inflation expectations. This analysis offers a note of caution in …
Persistent link: https://www.econbiz.de/10010690284
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Inflation persistence: alternative interpretations and policy implications
Sbordone, Argia M. - Federal Reserve Bank of New York - 2007
a consequence of monetary policy rather than a structural feature of the economy. With a simple quantitative exercise, I …
Persistent link: https://www.econbiz.de/10005726661