Monetary Policy with Opinionated Markets
<jats:p> We build a model in which the Fed and the market disagree about future aggregate demand. The market anticipates monetary policy “mistakes,” which affect current demand and induce the Fed to partially accommodate the market’s view. The Fed expects to implement its view gradually. Annou...
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| Format: | Article |
| Language: | English |
| Published: |
American Economic Association
2022
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| Online Access: | https://hdl.handle.net/1721.1/144449 |