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This chapter reviews the evolution of the theory of monetary policy design since the 1980s, highlighting the emerging …
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This paper sets out to investigate the role of additive uncertainty under plausible non-standard central bank loss functions over future inflation. Building on a substantial body of evidence in the economic psychology literature, this paper postulates (i) period-by-period loss functions that are...
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between advertising and subsequent net cash flows for Taiwan's mutual fund industry. Based on a comprehensive mutual fund … dataset and allowing for a precise estimation of fund inflows and outflows, we find that there is positive advertising … advertising works well during relatively low interest rate environments, which are generally interpreted as exhibiting low cost of …
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