Orphanides, Athanasios; Williams, John C. - Center for Financial Studies - 2003
expectations, macroeconomic dynamics, and the efficient formulation of monetary policy. Economic agents rely on an adaptive … between monetary policy and economic outcomes. We find that policies that would be efficient under rational expectations can …://www.ifk-cfs.de
No. 2003/40
Imperfect Knowledge, Inflation Expecta-
tions, and Monetary Policy
Athanasios Orphanides, John C …