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Signaling goodness : social rules and public choice

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The Rise, Fall and Stabilization of U.S. Inflation : Shifting Regimes and Evolving Reputation

King, Robert G.; Lu, Yang - National Bureau of Economic Research - 2021

The rise, fall, and stabilization of US inflation between 1969 and 2005 is consistent with a model of shifting policy regimes that features a forward-looking New Keynesian Phillips curve, policymakers that can or cannot commit, and private sector learning about policymaker type. Using...

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