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Debt, Policy Uncertainty, and Expectations Stabilization

Eusepi, Stefano; Preston, Bruce


This paper develops a model of policy regime uncertainty and its consequences for stabilizing expectations. Because of learning dynamics, uncertainty about monetary and fiscal policy is shown to restrict, relative to a rational expectations analysis, the

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
Source: Journal of the European Economic Association
DOI: 10.1111/j.1542-4774.2012.01072.x


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