Monetary Policy Mistakes and the Evolution of Inflation Expectations
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What monetary policy framework, if adopted by the Federal Reserve, would have avoided the Great Inflation of the 1960s and 1970s? We use counterfactual simulations of an estimated model of the U.S. economy to evaluate alternative monetary policy strategies. We show that policies constructed using
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美国国家经济研究局创建时间：
2011-05-01
