Optimal Time-Consistent Monetary, Fiscal and Debt Maturity Policy
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https://www.nber.org/papers/w25658
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The textbook optimal policy response to an increase in government debt is simplemonetary policy should actively target inflation, and fiscal policy should smooth taxes while ensuring debt sustainability. Such policy prescriptions presuppose an ability to commit. Without that ability, the temptation
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美国国家经济研究局创建时间：
2019-03-01
