 | Contacts, Credibility and Common Knowledge : Their Influenceon Inflation Convergence Author/Editor: Marcus Miller, Alan Sutherland. Release Date:March, 1992 In this paper three possible reasons are examined for a sluggish inflation response to a hard currency peg. Models of overlapping wage contracts are analyzed and shown to generate little inertia. more...
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| Currency Bands, Target Zones, and Cash Limits : Thresholds for Monetary and Fiscal Policy Author/Editor: Marcus Miller, Paul Weller. Release Date:February, 1990 Exchange rate behavior is analyzed in the context of a stochastic rational expectations model in which there are random shocks to the price setting mechanism and in which the authorities choose to more...
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