Edge, Rochelle M. (contributor); Laubach, Thomas (contributor) - 2008
, its staff, or the management of the Federal Reserve Bank of San Francisco.
1 Introduction
This paper examines welfare … abstract from learning and assume that the policymaker’s knowledge and uncertainty
do not change over time. We assume that … hours, is able to estimate the mean level of hours precisely.
We assume that the policymaker has no independent knowledge of …