Finance and Economics Discussion Series: Expectations, Learning and the Costs of Disinflation: Experiments Using the Frb/Us Model - Couverture souple

Bomfim, Antulio

 
9781288721603: Finance and Economics Discussion Series: Expectations, Learning and the Costs of Disinflation: Experiments Using the Frb/Us Model
Couverture souple
ISBN 10 : 1288721609 ISBN 13 : 9781288721603
Editeur : Bibliogov, 2013

Synopsis

The costs of disinflation are explored using the Board's new sticky-price rational expectations macroeconometric model of the U.S. economy, FRB/US. The model nests both model consistent and restricted-information rational' expectations. Monetary policy is governed by interest-rate reaction functions of which two are considered: the well-known Taylor rule and another rule that is more aggressive and richer in its specification, estimated using data for the last fifteen years. Agents are required to learn of shifts of the inflation target using linear updating rules. The simulated costs of disinflation are compared with other estimates of sacrifice ratios.

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Éditeur
Bibliogov
Date d'édition
2013
Langue
anglais
ISBN 10 
1288721609
ISBN 13 
9781288721603
Reliure
Broché
Nombre de pages
38
Coordonnées du fabricant
non disponible
Personne responsable
non disponible