expenditures. If economic agents place sufficient probability on the economy hitting its "fiscal limit" at some point in the future …

rule) in one regime is not sufficient to insulate the economy against tax shocks in that regime and it can have the …

order to stabilize the real economy. A modified Taylor curve, the forecast Taylor curve, showing the tradeoff between the … achieved an efficient stabilization of both inflation and the real economy and what relative weight on the stability of … inflation and the real economy has effectively been applied. Ex ante evaluation may be more relevant than evaluation ex post …