Saint-Paul, Gilles - National Bureau of Economic Research (NBER) - 2011
models devised by the economists vary depending on whether they are "progressive" vs. "conservative". The predictions depend … economists will tend to report a lower keynesian multiplier, and a greater long-term inflationary impact of output expansions. On … the other hand, the economists' margin of manoeuver is constrained by the autocoherence conditions. Here, a "progressive …