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Supply Shocks and Optimal Monetary Policy

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NBER1986-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1988
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This paper demonstrates that if current shocks are observed instantaneously, output can be stabilized perfectly for completely general supply disturbances, using simple monetary rules based only on: (i) the current shock, (ii) the previous forecast of the current shock, (iii) the forecast for just
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1986-07-01
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