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The Time Consistency of Optimal Monetary and Fiscal Policies

✍ Scribed by Fernando Alvarez; Patrick J. Kehoe; Pablo Andrés Neumeyer


Book ID
111052362
Publisher
John Wiley and Sons
Year
2004
Tongue
English
Weight
224 KB
Volume
72
Category
Article
ISSN
0012-9682

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📜 SIMILAR VOLUMES


Imperfect price adjustment and the optim
✍ Mark Gertler 📂 Article 📅 1979 🏛 Elsevier Science 🌐 English ⚖ 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