Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model: Expanded Version
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In this paper, we study Ramsey-optimal fiscal and monetary policy in a medium-scale model of the U.S.\ business cycle. The model features a rich array of real and nominal rigidities that have been identified in the recent empirical literature as salient in explaining observed aggregate fluctuations.
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美国国家经济研究局创建时间：
2005-06-01
