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New Keynesian theory identifies a set of principles central to the design and implementation of monetary policy. These … under the assumption of perfect information and full rationality. However, the challenging macroeconomic environment …
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New Keynesian theory identifies a set of principles central to the design and implementation of monetary policy. These … under the assumption of perfect information and full rationality. In consequence the prevailing policy regime is credible … engendered a re-evaluation of the theory and practice of monetary policy. The challenging macroeconomic environment bequeathed by …
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We develop a dynamic two-period generalized beauty contest to study the optimal level of publicity when disclosed information is subject to multiplier effects inherent to social learning. We build upon the static case, where all agents receive a private signal about an unknown fundamental state...
Persistent link: https://www.econbiz.de/10011373562
We develop a dynamic two-period generalized beauty contest to study the optimal level of publicity when disclosed information is subject to multipliereffects inherent to social learning. We build upon the static case, where all agents receive a private signal about an unknown fundamental state...
Persistent link: https://www.econbiz.de/10011349468
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