How do central banks control inflation? A guide for the perplexed
Laura Castillo Martinezpersonal.lse.ac.ukSaved by Alvaro Gornes
How do central banks control inflation? A guide for the perplexed
The rise of professionalized economics makes it useful for organizations to incorporate groups of economists and econometric analyses. Though no one may read, understand or believe them, econometric analyses help legitimate the organization's plans in the eyes of investors, customers (as with Defense Department contractors), and internal... See more
American Journal of Sociology • Institutionalized Organizations: Formal Structure as Myth and Ceremony on JSTOR
Restrictive assumptions such as ‘rational expectations’ (Lucas 1976; Muth 1961), representative rational agent modelling, probability theory, and stochastic modelling fail to support understanding as in a crisis we face the uncertainty described by Frank Knight (Knight 1921). Arguably, this is one of the key challenges that Keynes (1936) addressed
... See moreRichard Simmons, Paolo Dini, Nigel Culkin • Crisis and the Role of Money in the Real and Financial EconomiesAn Innovative Approach to Monetary Stimulus
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