Coherence without rationality at the zero lower bound

Coherence without rationality at the zero lower bound

Standard rational expectations models with an occasionally binding zero lower bound constraint either admit no solutions (incoherence) or multiple solutions (incompleteness). This paper shows that deviations from full-information rational expectations mitigate concerns about incoherence and incomple...

书目详细资料
Main Authors:	Ascari, G, Mavroeidis, S, McClung, N
格式:	Journal article
语言:	English
出版:	Elsevier 2023

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