Uncertainty Over Models and Data: The Rise and Fall of American Inflation

Material TypeArticleLanguageEnglish
TitleUncertainty Over Models and Data: The Rise and Fall of American Inflation Author(S)SETH PRUITT (Author)
Abstract  Economic agents who are uncertain of their economic model learn, and this learning is sensitive to the presence of data uncertainty. I investigate this idea in a framework that successfully describes inflation as a learning Federal Reserve’s optimal policy but fails to satisfactorily motivate these policy shifts ...Paginationp341–365
SubjectEconomicsDescriptorsEconomics
Journal TitleJournal of Money, Credit, and Banking  
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