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Ináation expectations have recently received increased interest because of the uncertainty created by the Federal Reserveís unprecedented reaction to the Great Recession.The effect of this reaction on...
Reset Price Inflation and the Impact of Monetary Policy Shocks.
Inflation-targeting central banks often explicitly reserve the right to intervene in foreign exchange markets when the exchange rate ‘deviates from fundamentals’ and/or ‘displays excessive volatility’...
In theory, monetary policies that target the price level, as opposed to the inflation rate, should be highly effective at stabilizing the economy and avoiding deflation in the presence of the zero low...
The standard new Keynesian monetary policy problem is presentable as a set of linearized equations, for values of endogenous variables relatively close to their steady-state. As a result, only three p...

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