Rational expectations and optimal monetary policy: estimates for Brazil and the U.S.
This paper uses Taylor's macroeconomic model with rational agents. The model is designed to allow the researcher to estimate aggregate demand and price equations under rational expectations and some inflexibility in wage adjustment arising from contracts. The generalized method ofmoments is ap...
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| Format: | Article |
| Language: | Portuguese |
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Universidade de São Paulo
1997-02-01
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| Series: | Economia Aplicada |
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| Online Access: | https://www.revistas.usp.br/ecoa/article/view/217554 |