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Are long-horizon expectations (de-)stabilizing? : theory and experiments
Evans, George W.; Hommes, Cars H.; McGough, Bruce; … - 2019
We consider boundedly rational agents who do not plan over the infinite future but make trading plans at a finite, arbitrary horizon. We investigate the role of that horizon in the price dynamics of an asset in a Lucas tree model. We then design a laboratory experiment to test our theoretical...
Persistent link: https://www.econbiz.de/10012037335
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Social learning and monetary policy at the effective lower bound
Arifovic, Jasmina; Grimaud, Alex; Salle, Isabelle; … - 2020 - Last updated: January 27, 2020
heterogeneous expectations that may durably lose their anchorage to the central bank (CB)'s target and coordinate on particularly …
Persistent link: https://www.econbiz.de/10012154130
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What people believe about monetary finance and what we can('t) do about it : evidence from a large-scale, multi-country survey experiment
Hommes, Cars H.; Pinter, Julien; Salle, Isabelle - 2023 - Last updated: July 14, 2023
blog post from a central bank (CB) that opposes monetary-financed policies preceded by a short video on public finance can …
Persistent link: https://www.econbiz.de/10014293355