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Persistent link: https://www.econbiz.de/10009324598
This paper studies a class of interest rate rules, introduced by Evans and Honkapohja (2001a, 2004), that respond to public expectations and to lagged variables. The policymaker commits to the extent that the interest rate responds to lagged output in an effort to influence public expectations....
Persistent link: https://www.econbiz.de/10010759678