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The paper extends previous analysis of closed-economy inflation targeting to a small open economy with forward-looking aggregate supply and demand, and with stylized realistic lags in the different transmission channels for monetary policy. The paper compares targeting of CPI and domestic...
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, negative productivity supply shocks and positive demand shocks have similar effects on inflation and the output gap, and induce …
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, negative productivity supply shocks and positive demand shocks have similar effects on inflation and the output gap, and induce …
Persistent link: https://www.econbiz.de/10010128040
, negative productivity supply shocks and positive demand shocks have similar effects on inflation and the output gap, and induce …
Persistent link: https://www.econbiz.de/10012471032
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