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Learning process and rational expectations : an analysis using a small macroeconomic model for New Zealand

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Learning Process and Rational Expectations : An Analysis Using a Small Macroeconomic Model for New Zealand

Basdevant, Olivier - 2003

The nature of expectations matters when conducting monetary policy. Models with a learning process can exhibit very different properties from models with other types of expectations rules. This paper draws on the work of Orphanides and Williams (2002), extending it to allow for the possibility...

Persistent link: https://www.econbiz.de/10014083024