Seminar 237, Macroeconomics: "Anchoring Inflation Expectations"(Zoom)

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Submitted by Brandon Eltiste on July 07, 2021
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Zoom
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Tuesday, September 7, 2021 - 16:10
About this Event

Lawrence Christiano, Professor, Northwestern University

Abstract: We derive the restrictions on monetary policy which guarantee that inflation expectations are anchored in a simple monetary model. Loosely, the restrictions require that policy should `lean against the wind, but with moderation'. We relate our analysis to the growing literature on bounded rationality.