Orphanides, Athanasios; Williams, John C. - 2003
expectations with perfect knowledge and reexamine the role of inflation expec-
tations in the economy and in the conduct of … monetary policy. Agents are assumed to
have imperfect knowledge of the precise structure of the economy and the policymakers …
and do not necessarily reflect the views of the Board of Governors of the Federal Reserve System or
of management of the …