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Optimal Commitment in Monetary Policy: Credibility versus Flexibility

✍ Scribed by Susanne Lohmann


Book ID
125664886
Publisher
American Economic Association
Year
1992
Tongue
English
Weight
374 KB
Volume
82
Category
Article
ISSN
0002-8282

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Optimal monetary policy under flexible e
✍ Stephen J. Turnovsky πŸ“‚ Article πŸ“… 1979 πŸ› Elsevier Science 🌐 English βš– 793 KB

This paper considers optimal monetary stabilization policy under flexible exchange rates in a model where exchange rate expectations are generated regressively. The analysis highlights the intimate relationship that exists between: (a) the direction of the optimal monetary feedback rule, (b) the amo