cumulative process with rising inflation is likely. On the other hand, a Taylor interest rate rule that sets the interest rate …

cumulative process with rising inflation is likely. On the other hand, a Taylor interest rate rule that sets the interest rate …

disequilibrium. The analysis explains the existence of a cumulative process based on the capacity of the entrepreneur to anticipate … price variations. The variation in prices explains the persistence of the cumulative process. This, we argue, represents an …

cumulative process with rising inflation is likely. On the other hand, a Taylor interest rate rule that sets the interest rate …

to inflation. In particular, if the monetary authority only responds weakly to inflation, a cumulative process with …