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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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This paper calculates the cost of an unemployment shock in terms of family welfare for married and single families …
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