This article is a complete re-write of two existing sections of my manuscript. I was unhappy with the sections, and they were blocking my progress. I decided to throw in the towel, and just cut the text down to the minimum. The text probably needs work, but it is no longer going to be black hole for revisions.
"the central bank is attempting to control inflation by raising and lowering the policy rate."
I am increasingly struggling to find empirical evidence that this actually works, but I suppose for investment purposes it is sufficient that most market participants (and central bankers themselves) believe that it does?
"the central bank is attempting to control inflation by raising and lowering the policy rate."
I am increasingly struggling to find empirical evidence that this actually works, but I suppose for investment purposes it is sufficient that most market participants (and central bankers themselves) believe that it does?
Yes. I don’t want to derail the section with that discussion, which probably shows up elsewhere in the book.