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Monetary policy and rational expectations: A comparison of least squares and Bayesian learning

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  • Meyer, Laurence H.
  • Webster, Charles

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  • Meyer, Laurence H. & Webster, Charles, 1982. "Monetary policy and rational expectations: A comparison of least squares and Bayesian learning," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 17(1), pages 67-97, January.
  • Handle: RePEc:eee:crcspp:v:17:y:1982:i::p:67-97
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    References listed on IDEAS

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    1. Fellner, William, 1980. "The Valid Core of Rationality Hypotheses in the Theory of Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(4), pages 763-787, November.
    2. Okun, Arthur M, 1978. "Efficient Disinflationary Policies," American Economic Review, American Economic Association, vol. 68(2), pages 348-352, May.
    3. Thomas J. Sargent, 1982. "The Ends of Four Big Inflations," NBER Chapters,in: Inflation: Causes and Effects, pages 41-98 National Bureau of Economic Research, Inc.
    4. Lucas, Robert E, Jr, 1978. "Unemployment Policy," American Economic Review, American Economic Association, vol. 68(2), pages 353-357, May.
    5. Flood, Robert P & Garber, Peter M, 1980. "An Economic Theory of Monetary Reform," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 24-58, February.
    6. McCallum, Bennett T, 1980. "Rational Expectations and Macroeconomic Stabilization Policy: An Overview," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(4), pages 716-746, November.
    7. George L. Perry, 1978. "Slowing the Wage-Price Spiral: The Macroeconomic View," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 9(2), pages 259-299.
    8. Laurence H. Meyer & Robert H. Rasche, 1980. "On the costs and benefits of anti-inflation policies," Review, Federal Reserve Bank of St. Louis, issue Feb, pages 3-14.
    9. Taylor, John B, 1975. "Monetary Policy during a Transition to Rational Expectations," Journal of Political Economy, University of Chicago Press, vol. 83(5), pages 1009-1021, October.
    10. Cagan, Phillip, 1980. "Reflections on Rational Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(4), pages 826-832, November.
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    Cited by:

    1. Paul Hubert, 2015. "Revisiting the Greenbook’s relative forecasting performance," Revue de l'OFCE, Presses de Sciences-Po, pages 151-179.
    2. Huh, Chan G. & Lansing, Kevin J., 2000. "Expectations, credibility, and disinflation in a small macroeconomic model," Journal of Economics and Business, Elsevier, pages 51-86.
    3. P.A. Tinsley & Sharon Kozicki, 2004. "Permanent and Transitory Policy Shocks in an Empirical Macro Model with Asymmetric Information," Computing in Economics and Finance 2004 146, Society for Computational Economics.
    4. Chan G. Huh & Kevin J. Lansing, 1998. "Federal Reserve credibility and inflation scares," Economic Review, Federal Reserve Bank of San Francisco, pages 3-16.
    5. Kozicki, Sharon & Tinsley, P.A., 2005. "Permanent and transitory policy shocks in an empirical macro model with asymmetric information," Journal of Economic Dynamics and Control, Elsevier, pages 1985-2015.
    6. Huh, Chan G. & Lansing, Kevin J., 2000. "Expectations, credibility, and disinflation in a small macroeconomic model," Journal of Economics and Business, Elsevier, pages 51-86.

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