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Endogenous time-dependent rules and the costs of disinflation with imperfect credibility
(Fundação Getulio Vargas. Escola de Pós-graduação em Economia, 2003-10-09)
This paper examines the output effects of monetary disinflation in a model with endogenous time-dependent pricing rules and imperfect credibility of the disinflation policy. We find that these features interact to generate ...