Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version
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This paper computes welfare-maximizing monetary and fiscal policy rules in a real business cycle model augmented with sticky prices, a demand for money, taxation, and stochastic government consumption. We consider simple feedback rules whereby the nominal interest rate is set as a function of output
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美国国家经济研究局创建时间：
2006-08-01
