Money and banking croushore pdf
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Money and Banking
Several studies conclude that survey expectations often depart from the RE concept e. Any remaining errors are my own. The views expressed in the paper are those of the author and do not necessarily reflect those of the Board of Governors or the Federal Reserve System. Use the link below to share a full-text version of this article with your friends and colleagues. Learn more. This paper estimates the Phillips curve allowing for a simultaneous role of rational and survey expectations. We consider both a reduced form and a structural specification of the Phillips curve.
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