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Intro -- Contents -- Acknowledgments -- Chapter 1 Introduction -- Chapter 2 The Structural Context of Macroeconomic Policy Choice -- Chapter 3 Partisanship and Fiscal and Monetary Policy -- Chapter 4 Elections and Fiscal and Monetary Policy -- Chapter 5 Partisan Differences and Macroeconomic...
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According to the game-theoretic model of monetary policy, inflation is the consequence of time-inconsistent behavior of the monetary authority. The inflation bias can be eased by handing over the responsibility for monetary policy to an independent central bank and appointing a...
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