Levin, Andrew T.; López-Salido, J. David; Nelson, Edward; … - Federal Reserve Bank of St. Louis - 2008
preference/technology structure. For some positive-economics
applications� for example, determining the degree of forward …
model may be su� cient for answering many positive-economics issues, and no harm may arise from
taking two models to be … emphasis thatpolicyadvice cannottypicallybe determinedbythe �rst-order
dynamics of these models. True, in some positive-economics …