Showing 1 - 10 of 23
about the true structure of the economy. Private agents rely on an adaptive learning technology to form expectations and … learning and misperceptions of natural rates call for more aggressive responses to inflation that would be optimal under … potential misspecification of private sector learning and the magnitude of variation in natural rates. …
Persistent link: https://www.econbiz.de/10005132680
, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the achievement …
Persistent link: https://www.econbiz.de/10005530787
policy-makers, learning from the experience of the 1970s, eschewed activist policies in favour of policies that concentrated …
Persistent link: https://www.econbiz.de/10005662108
A central tenet of inflation targeting is that establishing and maintaining well-anchored inflation expectations are essential. In this paper, we reexamine the role of key elements of the inflation targeting framework towards this end, in the context of an economy where economic agents have an...
Persistent link: https://www.econbiz.de/10005791794
policymakers, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the …
Persistent link: https://www.econbiz.de/10005022429
, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the achievement …
Persistent link: https://www.econbiz.de/10011604383
: rational expectations and learning. We show that in this environment the ability to stabilize the real side of the economy is … private learning and misperceptions of natural rates call for greater policy inertia, a more aggressive response to inflation … economy. We show that such policies are quite robust to potential misspecification of private sector learning and the …
Persistent link: https://www.econbiz.de/10011604810
benefits and limitations of central bank communications in a model of imperfect knowledge and learning. It is shown that the …
Persistent link: https://www.econbiz.de/10005001848
The central tenet of inflation targeting is the anchoring of inflation expectations. In this paper, we reexamine the role of key elements of the inflation targeting framework towards this end, in the context of an economy where economic agents have an imperfect understanding of the macroeconomic...
Persistent link: https://www.econbiz.de/10005342919
: rational expectations and learning. We show that in this environment the ability to stabilize the real side of the economy is … private learning and misperceptions of natural rates call for greater policy inertia, a more aggressive response to inflation … economy. We show that such policies are quite robust to potential misspecification of private sector learning and the …
Persistent link: https://www.econbiz.de/10005344938