Sticky Inflation: Monetary Policy when Debt Drags Inflation Expectations
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https://www.nber.org/papers/w33190
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We append the expectation of a monetary-fiscal reform into a standard New Keynesian model. If a reform occurs, monetary policy will temporarily aid debt sustainability through a temporary burst in inflation. The anticipation of a possible reform links debt levels with inflation expectations. As a
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美国国家经济研究局创建时间：
2024-11-01
