Bullard, James B.; Evans, George W.; Honkapohja, Seppo - Federal Reserve Bank of St. Louis - 2007
equilibria, in the New Keynesian monetary policy framework. Inclusion of judgment in forecasts can lead to self …
developments contingent on the expected path of monetary policy. The fore-
cast represents the central bank’s best guess about the …
Monetary Policy, Judgment and Near-Rational Exuberance
James Bullard
George W. Evans
and
Seppo Honkapohja …