On 28th November OxTalks will move to the new Halo platform and will become 'Oxford Events' (full details are available on the Staff Gateway).
There will be an OxTalks freeze beginning on Friday 14th November. This means you will need to publish any of your known events to OxTalks by then as there will be no facility to publish or edit events in that fortnight. During the freeze, all events will be migrated to the new Oxford Events site. It will still be possible to view events on OxTalks during this time.
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We show that a vanishingly small friction in intertemporal co-ordination results in a unique bounded equilibrium in the New Keynesian model. This is the equilibrium customarily used to guide monetary policy, also known as the minimum-state-variable solution. But it does not rely on the Taylor Principle or any other off-equilibrium policy threat, and is therefore also immune to the Fiscal Theory of the Price Level. This liberates policy analysis from a thorny equilibrium selection issue.
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