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National Repository of Grey Literature 1 records found  Search took 0.00 seconds. 
New Keynesian model dynamics under heterogeneous expectations and adaptive learning
 Fukač, Martin
This study analyzes the economic dynamics in a basic New Keynesian model adjusted for imperfect, heterogeneous knowledge and adaptive learning. The policy, represented by a forward-looking Taylor rule, is driven by the central bank’s own internal forecasts, whereas the core economic dynamics are driven by private agents’ expectations. The paper studies the implications of disagreement between those two.
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