Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux
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This paper proves a certainty equivalence result for optimal policy under commitment with symmetric partial information about the state of the economy in a model with forward-looking variables. This result is used in our previous paper, Indicator Variables for Optimal Policy,' which synthesizes what
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美国国家经济研究局创建时间：
2003-01-01
