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Three Great American Disinflations

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NBER2007-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12982
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This paper analyzes the role of transparency and credibility in accounting for the widely divergent macroeconomic effects of three episodes of deliberate monetary contraction: the post-Civil War deflation, the post-WWI deflation, and the Volcker disinflation. Using a dynamic general equilibrium
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2007-03-01
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