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Performance of inflation targeting based on constant interest rate projections
Honkapohja, Seppo; Mitra, Kaushik - Center for Financial Studies - 2003
indeterminacy of equilibria and instability under adaptive learning. However, some other forms of CIR policy perform better. We also …
Persistent link: https://www.econbiz.de/10010958632
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Are stationary hyperinflation paths learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Center for Financial Studies - 2003
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is on stationary hyperinflationary paths near the...
Persistent link: https://www.econbiz.de/10010958763
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Performance of Inflation Targeting Based On Constant Interest Rate Projections
Honkapohja, Seppo; Mitra, Kaushik - Center for Financial Studies - 2003
indeterminacy of equilibria and instability under adaptive learning. However, some other forms of CIR policy perform better. We also …
Persistent link: https://www.econbiz.de/10005176454
Cover Image
Are Stationary Hyperinflation Paths Learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Center for Financial Studies - 2004
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is on stationary hyperinflationary paths near the...
Persistent link: https://www.econbiz.de/10005120784