Cost-Benefit Analysis of Leaning Against the Wind
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A simple and transparent framework for cost-benefit analysis of \leaning against the wind" (LAW), that is, tighter monetary policy for financial-stability purposes, is presented. LAW has obvious costs in the form of a weaker economy if no crisis occurs and possible benefits in the form of a lower
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美国国家经济研究局创建时间：
2016-01-01
