The Forward Guidance Puzzle is not a Puzzle
收藏NBER2024-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w33180
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资源简介：
In standard New Keynesian models, future interest rate cuts have larger effects than current cutsthis is called the forward guidance puzzle. We argue that the forward guidance puzzle is not a puzzle. We show the puzzle arises from an implausibly large monetary regime change, exceeding anything in U
提供机构：
美国国家经济研究局
创建时间：
2024-11-01
