Why Inflation Rose and Fell: Policy-Makers' Beliefs and U. S. Postwar Stabilization Policy*
نویسندگان
چکیده
منابع مشابه
Technical Appendix to “Why Inflation Rose and Fell: Policymakers’ Beliefs and US Postwar Stabilization Policy”
β̂ u = [0; ρ1; ρ2] satisfy (I) and (II) and therefore represents a self-confirming equilibrium, in the case of στ = 0. When σ 2 τ > 0, finding the self-confirming equilibrium is more involved and requires a numerical solution of the system of equations given by (I) and (II). The procedure works as follows: any given fixed value of ûN , β̂ π and β̂ u implies a linear stochastic process for £ πt, ut...
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ژورنال
عنوان ژورنال: Quarterly Journal of Economics
سال: 2006
ISSN: 0033-5533,1531-4650
DOI: 10.1162/qjec.121.3.867