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On fairness and welfare analysis under uncertainty

✍ Scribed by Jean-Paul Chavas; Jay Coggins


Book ID
106042163
Publisher
Springer
Year
2003
Tongue
English
Weight
337 KB
Volume
20
Category
Article
ISSN
0176-1714

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## Abstract This paper examines welfare‐maximizing monetary policy in an estimated micro‐founded general equilibrium model of the US economy where the policymaker faces uncertainty about model parameters. Uncertainty about parameters describing preferences and technology implies uncertainty about t