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The time consistency of monetary and fiscal policies
Alvarez, Fernando; Kehoe, Patrick J.; Neumeyer, Pablo - Federal Reserve Bank of Minneapolis - 2003
commitment. We then show that optimal policies are time consistent if the Friedman rule is optimal. For our benchmark economy in …
Persistent link: https://www.econbiz.de/10005367747
Cover Image
The time consistency of monetary and fiscal policies
Alvarez, Fernando; Kehoe, Patrick J.; Neumeyer, Pablo - Federal Reserve Bank of Minneapolis - 2002
Are optimal monetary and fiscal policies time consistent in a monetary economy? Yes, but if and only if under …
Persistent link: https://www.econbiz.de/10005427782