Imperfect unities of knowledge

Knowledge in Imperfect Data

Imperfect knowledge in databases

The field of imperfect knowledge (i.e., uncertain, imprecise, incomplete) is characterized by: (1) an active research area largely within relational theory; (2) a great variety of approaches that are not easily comparable, and (3) few practically usable results because of the inherent complexity of representing and manipulating imperfect knowledge. This paper draws together and analyzes a numbe...

Imperfect Knowledge, Liquidity and Bubbles

This paper demonstrates that insufficient liquidity, in the form of a shortage of safe assets that are useful as collateral in facilitating exchange, can lead to substantial movements in asset prices. There is a single asset that yields a positive payoff stream and can be traded in a centralized market. The asset can also be used to facilitate exchange in decentralized, or over-the-counter, tra...

Inflation Targeting under Imperfect Knowledge

A central tenet of inflation targeting is that establishing and maintaining well-anchored inflation expectations are essential. In this paper, we reexamine the role of key elements of the inflation targeting framework towards this end, in the context of an economy where economic agents have an imperfect understanding of the macroeconomic landscape within which the public forms expectations and ...

Comment on “Imperfect Knowledge, Inflation

This is a very nice paper. The main points are important, the structure is simple and clear, and I find the key arguments persuasive. In my comments I’m going to begin by summarizing the heart of the Orphanides-Williams argument. Then I will locate their paper within the rapidly growing literature on learning and monetary policy. Finally I will return to their paper and offer a number of specif...