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Simple Rules, Discretion and Monetary Policy

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NBER1989-04-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2934
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In this paper we explore the possibilities arising under a policy in which a partially state contingent money-supply rule is mixed with discretion. In addition to demonstrating that such mixed strategies can dominate both complete discretion and rigid adherence to the partially state contingent rule
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1989-04-01
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