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We use a monetary overlapping-generations model to discuss the cause and durability of the marked fall in the volatility of inflation in recent decades. In our model, agents have to forecast inflation, and they do so using two " heuristics. " One is based on lagged inflation, the other on an inflation target announced by the central bank. Agents switch(More)
Multiprocess environments comprising several intercommunicating LISP systems are straightforward to implement due to certain fundamental characteristics of the LISP language. Experiences with four methods of establishing the necessary communications linkages are described. The features of LISP which support experimentation with interprocess communication(More)
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