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Expectations and the Stability Problem for Optimal Monetary Policies

โœ Scribed by Evans, George W.; Honkapohja, Seppo


Book ID
108534028
Publisher
John Wiley and Sons
Year
2003
Tongue
English
Weight
114 KB
Volume
70
Category
Article
ISSN
0034-6527

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Imperfect price adjustment and the optim
โœ Mark Gertler ๐Ÿ“‚ Article ๐Ÿ“… 1979 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 822 KB

The paper considers the coordination of monetary and fiscal policy for a closed economy with the following properties: a Keynesian short-run, a classical steady state and serially cori'elated price adjustment. Given a set of plausible targets, the system is perfectly controllable in the sense of Aok