By David E. Altig, Bruce D. Smith
The contributions during this quantity exhibit a lot concerning the institutional nature of vital banks. They examine the banks' progress and improvement in addition to wanted targets and demanding situations sooner or later. The articles take on the problems in a number of methods, combining old commentary with fiscal conception and experimentation.
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Extra info for Evolution and Procedures in Central Banking
This number will appear in the last column of your screen at the end of each experimental time period. 98, the session will automatically be terminated. You will start every experimental session by running a computer program. The experimenter will give you the name of the program. Once you start the program, you will be prompted to enter the session number. You will enter these numbers in the consecutive order, starting with 1 for the first session, 2 for the second, etc. After entering the session number, you will be prompted to enter the probability that a particular session will end at any given experimental time period.
Sargent Figure C4: Economy 4. The x^t (gray) and xt (black) Figure C5: Economy 5. The x^t (gray) and xt (black) Laboratory Experiments with an Expectational Phillips Curve Figure C6: Economy 6. The x^t (gray) and xt (black) Figure C7: Economy 7. The x^t (gray) and xt (black) 49 50 Jasmina Arifovic and Thomas J. Sargent Figure C8: Economy 8. The x^t (gray) and xt (black) Figure C9: Economy 9. The x^t (gray) and xt (black) Laboratory Experiments with an Expectational Phillips Curve Figure C10: Economy 10.
8 30 Jasmina Arifovic and Thomas J. Sargent 5. 3 and figures C1–17 describe the outcomes. Each economy corresponds to one set of N + 1 students. Figures C14–17 contain evidence about the heterogeneity of the citizens’ expectations of inflation. Each economy contains several sessions, determined by the realization of a random variable that terminated the session. The panels in figures C1–12 correspond to different sessions with the same group of students. 5 (U t2+ y t2) across all sessions for each group.