Permanent and Transitory Policy Shocks in an Empirical Macro Model with Asymmetric Information

Figure 3: Inflation, the Estimated Perceived Inflation Target,
and Long-Term Inflation Expectations

Percent                                                                                               Percent

Figure 4: Time-Varying Natural Rate, Constant Natural Rate,
and the Long-Term Interest Rate

Percent                                                                                               Percent

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