Kurz, Mordecai (contributor); Jin, Hehui (contributor); … - 2003
://www.ifk-cfs.de
No. 2003/42
The Role of Expectations in Economic
Fluctuations and the Efficacy of
Monetary Policy
Mordecai Kurz … Efficacy of Monetary Policy
Mordecai Kurz
1
, Hehui Jin
2
and Maurizio Motolese
3
November 12, 2003
Abstract:
We … without discretion, monetary policy has a strong
stabilization effect and an aggressive anti-inflationary policy can reduce …