How to step on a rake is a little note on how to solve Chris Sims' stepping on a rake paper. This is mostly of interest if you want to know how to solve continuous time new-Keneysian (sticky price) models. Chris' versi is very interesting, combining fiscal theory, an interest rate rule, habits, long term debt, and it produces a temporary decline in inflation after a rise in nominal interest rates. Sumber http://barokongnetwork.blogspot.com
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Senin, 14 September 2020
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