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individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …
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individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …
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rationality. Economic agents form their expectations using heuristics - they choose between a few simple rules based on their past …
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individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …
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China's monetary policy disposes of two sets of monetary policy instruments: Instruments of the central bank, the People's Bank of China (PBC) and non-monetary policy instruments. Additionally, the PBC's instruments include (i) price-based indirect; and (ii) quantity-based direct instruments....
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