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observable states of the system, to be determined optimally via stochastic control and filtering theory. Solution existence is …
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In this paper we integrate heterogeneous inflation expectations into a simple monetary model. Guided by empirical evidence we assume that boundedly rational agents, selecting between extrapolative and regressive forecasting rules to predict the future inflation rate, prefer rules that have...
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, using insights from what is known as “Circuit Theory”. In this paper the author shows how monetary profits are generated …, and introduces a multisectoral dynamic disequilibrium monetary model of production. -- Endogenous money ; circuit theory …
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, using insights from what is known as "Circuit Theory". In this paper the author shows how monetary profits are generated …. -- Endogenous money ; circuit theory ; credit crunch …
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