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monetary policy framework. Inclusion of judgement in forecasts can lead to self-fulfilling fluctuations, but without the …
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Empirical work in macroeconomics is plagued by small sample size and large idiosyncratic variation. This problem is especially severe in the case of transition economies. We use a mixed estimation method incorporating information from OECD country data to estimate the parameters of a...
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"This paper summarizes recent developments in the theory and practice of monetary policy in a closed economy and explains what these developments mean for U.S. dollar policy. There is no conflict between what is appropriate U.S. monetary policy at home or abroad because the dollar is the world's...
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investment as well as explicit, exogenous growth in productivity and the labor input. We assume the monetary policymaker is …
Persistent link: https://www.econbiz.de/10005360610