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that the Bundesbank – which is near-universally credited for sparing West Germany the Great Inflation – would also not have …
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We study the post-war evidence for Japan to see if the same specification for both the economy and the monetary policy rule is useful for understanding Japan's economy and monetary policy. A recurrent theme in the literature on Japanese monetary policy is that there are significant differences...
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rate and the German economy. The results indicate that such effects are large. If Germany keeps its money growth unchanged …
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