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Persistent link: https://www.econbiz.de/10003830754
We develop a optimal rules-based interpretation of the 'three pillars macroeconomic policy framework': a combination of a freely floating exchange rate, an explicit target for inflation, and a mechanism than ensures a stable government debt-GDP ratio around a specified long run. We show how such...
Persistent link: https://www.econbiz.de/10012677709