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?aktiven? Geldpolitik und einer ?passiven? Fiskalpolitik. Insbesondere wird davon ausgegangen, dass der Fiskalagent die …
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We consider the properties of two monetary policy rules (monetary targeting, Taylor-type interest rate rule) in an intertemporal equilibrium model with capital accumulation and two outside assets (government bonds, fiat money). The paper shows that the long-run behaviour of the economy depends...
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