Working Paper
Expectations, credibility, and disinflation in a small macroeconomic model
Abstract: A study of the effects of expectations and central bank credibility on the economy's dynamic transition path during a disinflation. Using a version of the Fuhrer-Moore model, it compares simulations under different specifications that vary according to the way expectations are formed and the degree of central bank credibility.
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https://doi.org/10.26509/frbc-wp-199713
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https://www.clevelandfed.org/-/media/project/clevelandfedtenant/clevelandfedsite/publications/working-papers/1997/wp-9713-expectations-credibility-and-disinflation-pdf.pdf
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Working Papers (Old Series)
Publication Date: 1997
Number: 9713