Expectation Traps and Monetary Policy
收藏NBER2002-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8912
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资源简介：
Why is it that inflation is persistently high in some periods and persistently low in other periods? We argue that lack of commitment in monetary policy may bear a large part of the blame. We show that, in a standard equilibrium model, absence of commitment leads to multiple equilibria, or
提供机构：
美国国家经济研究局
创建时间：
2002-04-01
