| http://www.w3.org/ns/prov#value | - Moreover, in an environment such as the one under study, where changes in the non-monetary part of the economy are likely to dwarf the monetary-policy perturbations, it seems safe to assume that private agents were no more rational with regard to their anticipations of policy than the Fed staff was about private-sector decision making.15 In their study of the evolution of the Fed beliefs over a lo
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