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The aim of the paper is to compare the sensitivity of a government's fiscal policy and a central bank's monetary policy, which are in Nash equilibrium in the case of a non-cooperative game between the government and the central bank in Czechia, Hungary, and Romania. The analysis for each country...
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Nordhaus's theory of the "destructive game" (1994) is a central analysis of the policy mix. His theory showed that a … inflation rate and the unemployment rate. Moreover, as in traditional macroeconomic theory, according to this version of the …
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