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The Effects of Monetary Policy Announcements  

Chao Gu, Han Han, and Randall Wright

The effects of news (i.e., information innovations) are studied in dynamic general equilibrium models where liquidity matters. As a leading example, news can be announcements about monetary ... More

The Indeterminacy School in Macroeconomics  

Roger E. A. Farmer

The indeterminacy school in macroeconomics exploits the fact that macroeconomic models often display multiple equilibria to understand real-world phenomena. There are two distinct phases in ... More

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