Macroeconomic and monetary policies from the eductive viewpoint
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Date
2009
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Banco Central de Chile
Abstract
Description
The quality of the coordination of expectations, a key issue for monetary policy, obtains from different, but interrelated, channels: both the credibility of the central bank intervention and the ability of decentralized agents to coordinate on a dynamical equilibrium matter. For both purposes, it is important to understand how agents learn. Indeed, many studies on monetary policy focus on learning processes involving evolutive, real-time learning rules (such as adaptive learning rules).
Keywords
POLÍTICA MONETARIA, MACROECONOMÍA, BANCOS CENTRALES