Altig, David; Christiano, Lawrence J.; Eichenbaum, Martin S. - 2004 - [Elektronische Ressource]
depend on the value
of σ
a
, the dynamics do. Given our solution procedure, we do not need to specify any other
features of … steady state of the model does not depend on the value of S
00
,
the dynamics do. Given our solution procedure, we do not … equation which characterizes aggregate inflation dynamics.
This equation is of the form:
∆ˆπ
t
= E[β∆ˆπ
t+1
+γˆs
t
|Ω
t
], (2 …