Evans, George W.; Honkapohja, Seppo - Centre for Dynamic Macroeconomic Analysis, University … - 2008
policy to
combat liquidity traps and deflation.
Keywords: Imperfect knowledge, learning, interest-rate setting,
fluctuations … excessively strong: neither private agents
nor policy-makers have perfect knowledge of the economy. In reality, econo-
mists … the economy as they attempt to
improve their knowledge of the economy.
Formal study of these learning processes and their …