Incomplete Information and Self-Fulfilling Inflation Dynamics—Lucas meets Keynes
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This paper incorporates the Lucas (1973) island model into a standard DSGE framework. It demonstrates that self-fulfilling stochastic inflation equilibria, which are driven by intrinsic uncertainty or pure sentiments, can exist under rational expectations. Furthermore, it shows that these sentiment
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美国国家经济研究局创建时间：
2026-08-01
