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State-dependent Forward Guidance and the Problem of Inconsistent Announcements
Florez-Jimenez and Parra-Polania (2016) show that unconditional forward guidance (FG) performs poorly except in the most extreme zero lower-bound (ZLB) events and that for any ZLB situation it is better to resort to ...Documentos de Trabajo. 2018-01-30
Borradores de Economía; No. 1035