Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/211508 
Erscheinungsjahr: 
1988
Schriftenreihe/Nr.: 
Bank of Finland Discussion Papers No. 5/1988
Verlag: 
Bank of Finland, Helsinki
Zusammenfassung: 
This paper reports some policy experiments carried out with the QMED model of the Bank of Finland. The main issue in these experiments is the role of expectations. Thus, we compare a static expectations version with two rational expectations versions of the model. These two versions differ in terms of the time horizon of expectations. When various policy simulations are carried out with these different versions - both in terms of anticipated and unanticipated shocks - it turns out that the whole short-run dynamics ;s crucially affected by the way in which expectations are modelled. In particular, we find the advance effects in the case of the rational expectat;ons versions can be of considerable magnitude.
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
951-686-148-2
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
789.17 kB





Publikationen in EconStor sind urheberrechtlich geschützt.