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bankruptcy regardinghouse ownership) would occur. This bail-out policy can stabilize the economy and also reduces the loss of …
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Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...
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consumption. The central bank'™s interest rate target is found to differ significantly from the implied consumer Euler rate thus … view (see Curdia and Woodford (2010)) that calls central banks to target credit spreads. …
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