Showing 1 - 3 of 3
In contrast with recent research in monetary policy analysis which has featured a great deal of work concerning conditions for determinacy, I have argued in recent publications that least-squares (LS) learnability is a compelling necessary condition for a rational expectations (RE) equilibrium...
Persistent link: https://www.econbiz.de/10005245900
Persistent link: https://www.econbiz.de/10008547957
This paper considers whether "liquidity trap" issues have important bearing on the desirability of inflation targeting as a strategy for monetary policy. From a theoretical perspective, it has been suggested that "expectation trap" and "indeterminacy" dangers are created by variants of inflation...
Persistent link: https://www.econbiz.de/10005738008