Inflation-Target Expectations and Optimal Monetary Policy.
In countries with credible ination targeting, it seems plausible to suggest that instead of forming a rational expectation, some rms ("ination-targeters") might simply expect future ination to always equal its target. This paper analyses the implications of this for optimal monetary policy...
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| Médium: | Working paper |
| Jazyk: | English |
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Department of Economics (University of Oxford)
2005
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