Liquidity traps, learning and stagnation ☆

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Behavioral & Experimental Macroeconomics and Policy Analysis: A Complex Systems Approach (2018, background): “Evans et al. (2008) set π∗ = 1.05 which implies a net output steady state value of c∗ = 0.7454. Under the aggressive monetary policy in Eq. (26), the low-inflation steady state is given by (πL, cL) = (0.99, 0.7428). The two equilibria of the model are depicted in Fig. 3. Evans et al. (2008) consider”
The science of monetary policy: an imperfect knowledge perspective (2018, unknown): “…informational delays, or in which decision rules imply forecasts over an in nite horizon, show similar qualitative behavior of output and in ation see, for example, Evans, Guse, and Honkapohja (2008), Evans and Honkapohja (2010) and Benhabib, Evans, and Honkapohja (2014) which are discussed below.”
Seven faces of "the peril" (2010, background): “19 For a version that backs off the rational expectations assumption, but still eliminates the undesirable equilibrium, see Evans, Guse, and Honkapohja (2008).”