Is The Monetarist Arithmetic Unpleasant?
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https://www.nber.org/papers/w22866
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资源简介：
The unpleasant monetarist arithmetic of Sargent and Wallace (1981) states that in a fiscally dominant regime tighter money now can cause higher inflation in the future. In spite of the qualifier unpleasant, this result is positive in nature, and, therefore, void of normative content. I analyze
提供机构：
美国国家经济研究局
创建时间：
2016-11-01
