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Stabilizing Expectations under Monetary and Fiscal Policy Coordination

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NBER2008-10-01 更新2025-01-04 收录
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This paper analyzes the constraints imposed on monetary and fiscal policy design by expectations formation. Households and firms learn about the policy regime using historical data. Regime uncertainty substantially narrows, relative to a rational expectations analysis of the model, the menu of

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2008-10-01
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