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Targeting vs. Instrument Rules for Monetary Policy

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NBER2004-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w10612
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Svensson (JEL, 2003) argues strongly that specific targeting rules first order optimality conditions for a specific objective function and model are normatively superior to instrument rules for the conduct of monetary policy. That argument is based largely upon four main objections to the latter
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2004-07-01
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