Construct · 1 fields · 1 citations

forward guidance puzzle: a standalone construct

One name. One construct. A landmark on the map.

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Monetary economics

the prediction of standard New Keynesian models that promises about distant future interest rates have implausibly large effects on current output and inflation.

In monetary economics, forward guidance puzzle refers to the prediction of standard New Keynesian models that promises about distant future interest rates have implausibly large effects on current output and inflation. This meaning comes from McKay (2016) in American Economic Review.[1]

Unit
Recovery means
Measured by

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Nearby constructs

current3 fields · 6 citationsjingle · one word, three constructs forward guidance1 fields · 1 citationsanchor · a standalone construct forward2 fields · 2 citationsjingle · one word, two constructs

References

McKay, A., Nakamura, E., & Steinsson, J. (2016). The Power of Forward Guidance Revisited. American Economic Review, 106(10), 3133-3158. https://doi.org/10.1257/aer.20150063

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