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| Author: | Gaspar, V. Smets, F. Vestin, D. |
| Title: | Adaptive learning, persistence, and optimal monetary policy |
| Journal: | Journal of the European Economic Association
2006 : MAY, VOL. 4:2-3, p. 376-385 |
| Index terms: | inflation private sector |
| Freeterms: | adaptive learning cost-push shocks optimal response |
| Language: | eng |
| Abstract: | This article discusses private sector expectations when in line with adaptive learning, optimal policy responds persistently to soct-push shocks. The optimal response is stronger, the higher the initial level of perceived inflation persistence by the private sector. |
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