Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis
收藏数据链接：
官方服务：
资源简介：
We illustrate a pitfall that can result from the common practice of assessing alternative monetary policies purely by considering the perfect foresight equilibria (PFE) consistent with the proposed rule. In a standard New Keynesian model, such analysis may seem to support the Neo-Fisherian
提供机构：
美国国家经济研究局创建时间：
2015-10-01
