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Rules Versus Discretion in Monetary Policy

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NBER1988-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2518
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This paper examines the case for rules rather than discretion in the conduct of monetary policy, from both historical and analytic perspectives. The paper starts with the rules of the game under the gold standard. These rules were ill-defined and not adhered to; active discretionary policy was
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1988-02-01
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