Messed-Up Macro →
Once beliefs and expectations are introduced into economics, as is surely reasonable, the results of fiscal and monetary policy become indeterminate. Too much depends on what people think the results of the policy will be.
A Partisan Nonpartisan Blog: Cutting Through Confusion Since 2012
Once beliefs and expectations are introduced into economics, as is surely reasonable, the results of fiscal and monetary policy become indeterminate. Too much depends on what people think the results of the policy will be.