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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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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, 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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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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Stable sunspot equilibria in a cash-in-advance economy
Evans, George W.; Honkapohja, Seppo; Marimon, Ramon - Department of Economics and Business, Universitat … - 2004
We analyze a monetary model with flexible labor supply, cash-inadvance constraints and seigniorage-financed government deficits. If the intertemporal elasticity of substitution of labor is greater than one, there are two steady states, one determinate and the other indeterminate. If the...
Persistent link: https://www.econbiz.de/10005827487
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Expectations, learning and monetary policy: an overview of recent research
Evans, George W; Honkapohja, Seppo - Suomen Pankki - 2007
Expectations about the future are central for determination of current macroeconomic outcomes and the formulation of monetary policy. Recent literature has explored ways for supplementing the benchmark of rational expectations with explicit models of expectations formation that rely on...
Persistent link: https://www.econbiz.de/10005419689
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Stable Sunspot Equilibria in a Cash-in-Advance Economy
Evans, George W.; Honkapohja, Seppo; Marimon, Ramon - Barcelona Graduate School of Economics (Barcelona GSE) - 2003
We analyze a monetary model with flexible labor supply, cash-inadvance constraints and seigniorage-financed government deficits. If the intertemporal elasticity of substitution of labor is greater than one, there are two steady states, one determinate and the other indeterminate. If the...
Persistent link: https://www.econbiz.de/10010851434