. This shows that under low levels of CBI, the fiscal authority will use both the fiscal and monetary instruments … simultaneously, whereas in the case of high CBI, the fiscal authority will not be able to use the monetary instrument and only the …

conflicted with economic theory and best practice. Not theunification "shock" itself, but the ill-guided fiscal and monetary …

, Sargent finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated …

process. The absence of the stock of money in many current debates over monetary policy has prompted the statement by the … model, namely that of dichotomy between the monetary and the real sector. The second is that some of these attempts either …

conflicted with economic theory and best practice. Not theunification "shock" itself, but the ill-guided fiscal and monetary …

process. The absence of the stock of money in many current debates over monetary policy has prompted the statement by the … model, namely that of dichotomy between the monetary and the real sector. The second is that some of these attempts either …

Monetary economists seek improvements in monetary policy in order to enhance macroeconomic growth and stability. Public … discretion, and have developed a body of theory to support the implementation of a rules-based monetary policy. Others counter … this theory with their own arguments and empirical work. This paper reviews the arguments for and against rules in monetary …