Orphanides, Athanasios (contributor); … - 2002 - [Elektronische Ressource]
Imperfect Knowledge, Inflation Expectations,
and Monetary Policy
Athanasios Orphanides
Board of Governors of the … the role that imperfect knowledge about the structure of the
economy plays in the formation of expectations, macroeconomic … outcomes.
We nd that policies that would be e cient under rational expectations can perform poorly
when knowledge is imperfect …