inflation. This model generates endogenous waves of optimism and pessimism ("Animal Spiritsʺ) that are generated by the … implications for monetary policies. One of our main results is that strict inflation targeting is suboptimal because it gives more … scope for waves of optimism and pessimism to emerge thereby destabilizing output and inflation. -- DSGE-model ; imperfect …

inflation. This model generates endogenous waves of optimism and pessimism (quot;Animal Spiritsquot;) that are generated by the … implications for monetary policies. One of our main results is that strict inflation targeting is suboptimal because it gives more … scope for waves of optimism and pessimism to emerge thereby destabilizing output and inflation …

in economic growth. Every macro-economic theory should attempt to explain these endemic business cycle movements. In this …

individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …

individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …