Construct · 1 fields · 1 citations

expectation traps: a standalone construct

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Monetary economics

situations in which private agents' expectations of inflation push a discretionary central bank to validate them, producing high inflation without a fundamental cause.

In monetary economics, expectation traps refers to situations in which private agents' expectations of inflation push a discretionary central bank to validate them, producing high inflation without a fundamental cause. This meaning comes from Chari (1998) in Journal of Economic Theory.[1]

Unit
Recovery means
Measured by

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Nearby constructs

bank1 fields · 1 citationsanchor · a standalone construct cause3 fields · 7 citationsjingle · one word, three constructs expectation4 fields · 4 citationsjingle · one word, four constructs

References

Chari, V. V., Christiano, L. J., & Eichenbaum, M. (1998). Expectation Traps and Discretion. Journal of Economic Theory, 81(2), 462-492. https://doi.org/10.1006/jeth.1998.2421

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