Rules versus Discretion
收藏NBER1984-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w1473
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资源简介：
Under a discretionary regime the monetary authority makes no commitments about future money and prices. Then, if surprise inflation conveys economic benefits and if people form expectations rationally, it turns out that the equilibrium involves high and variable monetary growth and inflation.
提供机构：
美国国家经济研究局
创建时间：
1984-09-01
