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Are stationary hyperinflation paths learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - 2003
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10010298287
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Policy interaction, learning and the fiscal theory of prices
Evans, George W.; Honkapohja, Seppo - 2002
We investigate both the rational explosive inflation paths studied by McCallum (2001) and the classification of fiscal …
Persistent link: https://www.econbiz.de/10012147853
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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 … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10010958763
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Policy Interaction, Learning and the Fiscal Theory of Prices
Evans, G W; Honkapohja, Seppo - C.E.P.R. Discussion Papers - 2002
We investigate both the rational explosive inflation paths studied by McCallum (2001), and the classification of fiscal …
Persistent link: https://www.econbiz.de/10005136683
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Are Hyperinflationary Paths Learnable?
Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Department of Economics, University of Oregon - 2003
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10005464104
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Policy interaction, learning and the fiscal theory of prices
Evans, George W.; Honkapohja, Seppo - Suomen Pankki - 2002
We investigate both the rational explosive inflation paths studied by McCallum (2001) and the classification of fiscal …
Persistent link: https://www.econbiz.de/10005423711
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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 … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …
Persistent link: https://www.econbiz.de/10005120784
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Performance of inflation targeting based on constant interest rate projections
Honkapohja, Seppo; Mitra, Kaushik - 2003
Monetary policy is sometimes formulated in terms of a target level of inflation, a fixed time horizon and a constant …
Persistent link: https://www.econbiz.de/10010298248
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Near-rational exuberance
Bullard, James; Evans, George W.; Honkapohja, Seppo - 2005
We study how the use of judgement or “add-factors” in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in standard macroeconomic...
Persistent link: https://www.econbiz.de/10011604601
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Near-Rational Exuberance
Bullard, James - 2006
We study how the use of judgement or quot;add-factorsquot; in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in standard macroeconomic...
Persistent link: https://www.econbiz.de/10012783706