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The value of monetary policy commitment under imperfect fiscal credibility

✍ Scribed by Ufuk Devrim Demirel


Book ID
113700522
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
486 KB
Volume
36
Category
Article
ISSN
0165-1889

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Imperfect price adjustment and the optim
✍ Mark Gertler πŸ“‚ Article πŸ“… 1979 πŸ› Elsevier Science 🌐 English βš– 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