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Inflation And Efficiency In A Search Economy

โœ Scribed by Chaim Fershtman; Arthur Fishman; Avi Simhon

Book ID
108563876
Publisher
John Wiley and Sons
Year
2003
Tongue
English
Weight
118 KB
Volume
44
Category
Article
ISSN
0020-6598

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## Abstract This paper develops a model of inflation targeting in a small open economy under floating exchange rates. The central bank follows a simple Taylor rule to achieve a target inflation rate, and the inflation process itself is determined by an expectations augmented Phillips curve mechanis