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Expectations, learning and monetary policy

机译:期望,学习和货币政策

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摘要

Economists have long recognized the crucial role of expectations in individual economic decisionmaking and, hence, in macroeconomic outcomes. Likewise, central bankers around the world have increasingly stressed the critical importance of expectations in the successful formulation of monetary policy. For example, it is widely accepted that well-anchored private inflation expectations not only make it easier to achieve a central bank's price stability objective over the long term, but also make it easier to achieve a central bank's goals for the short-run stabilization of economic activity.
机译:长期以来,经济学家已经认识到期望在个人经济决策中以及因此在宏观经济结果中的关键作用。同样,世界各地的中央银行也越来越强调期望对于成功制定货币政策至关重要。例如,人们普遍接受的是,良好的私人通胀预期不仅使长期实现央行价格稳定目标更加容易,而且使实现短期货币市场稳定目标更加容易。经济活动。

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