How Long to Read How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil?

How Long Does it Take to Read How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil??

It takes the average reader and 30 minutes to read How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil? by Allan Dizioli

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper estimates a standard Dynamic Stochastic General Equilibrium (DSGE) model that includes a wage and price Phillip's curves with different expectation formation processes for Brazil and the USA. Other than the standard rational expectation process, we also use a limited rationality process, the adaptive learning model. In this context, we show that the separate inclusion of a labor market in the model helps to anchor inflation even in a situation of adaptive expectations, a positive output gap and inflation above target. The estimation results show that the adaptive learning model does a better job in fitting the data in both Brazil and the USA. In addition, the estimation shows that expectations are more backward-looking and started to drift away sooner in 2021 in Brazil than in the USA. We then conduct optimal policy exercises that prescribe early monetary policy tightening in the context of positive output gaps and inflation far above the central bank target.

How long is How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil??

How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil? by Allan Dizioli is 30 pages long, and a total of 7,500 words.

This makes it 10% the length of the average book. It also has 9% more words than the average book.

How Long Does it Take to Read How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil? Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 40 minutes to read How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil? aloud.

What Reading Level is How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil??

How Do Adaptive Learning Expectations Rationalize Stronger Monetary Policy Response in Brazil? is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

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