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Persistent link: https://www.econbiz.de/10001969602
We study a simple, microfounded macroeconomic system in which the monetary authority employs a Taylor-type policy rule. We analyze situations in which the self-confirming equilibrium is unique and learnable according to Bullard and Mitra (2002). We explore the prospects for the use of ‘large...
Persistent link: https://www.econbiz.de/10005490880