1.
Various measures indicate that inflation expectations evolve sluggishly relative to actual inflation. In addition, they often fail conventional tests of unbiasedness. The[...]
2002 | Text | Staff Working Paper - Document de travail du personnel |
2.
We develop an equilibrium model of the monetary policy transmission mechanism that highlights information frictions in the market for money and search frictions in the ma[...]
2002 | Text | Staff Working Paper - Document de travail du personnel |