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suboptimal. The paper attributes regular behaviour to adjustment cost heterogeneity. We show that, given the cost heterogeneity …
Persistent link: https://www.econbiz.de/10003358664
Most of the empirical literature on consumption behaviour over the last decades has focused on estimating Euler … policy relevant issues. Alternatively, many papers have proposed using the consumption function to forecast behaviour. This …
Persistent link: https://www.econbiz.de/10003250266
and heuristics switching models match this observed micro and macro behaviour surprisingly well. We also discuss policy …
Persistent link: https://www.econbiz.de/10011929804
While it has become clear that communication is a monetary policy tool for central banks, and extensive research has been conducted on central bank communication with financial markets, little is known so far on central bank communication with the general public. My research provides new...
Persistent link: https://www.econbiz.de/10014342276