Bullard, James Brian (contributor); Cho, In-Koo (contributor) - 2003 - [Elektronische Ressource], rev
’s perceived inflation target.
If the government adopted a fixed target for inflation, then the escape
dynamics we describe in the … perceived inflation target π
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t
in order to compute π
d
t
.
To obtain π
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t
, the private sector agents take the … inflation. Thus we generate events that have some of the properties
of “liquidity traps” observed in the data, even though the …