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Strategic Interactions in U.S. Monetary and Fiscal Policies

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NBER2020-07-01 更新2025-01-04 收录
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We estimate a model in which fiscal and monetary policy behavior arise from the optimizing behavior of distinct policy authorities, with potentially different welfare functions. Optimal time-consistent policy behavior fits U.S. time series at least as well as rules-based behavior. American policies

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2020-07-01
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