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This paper offers several contributions to actual research and discussion on monetary policy. It clarifies the relationship between uncertainty of inflation persistence and optimal monetary policy and discusses the consequences of the recent Blanchard proposal to implement a higher inflation...
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We analyze the distributional effects of monetary policy on income, wealth and consumption. We use administrative … terms of income, wealth and consumption are monotonically increasing in the ex-ante income level. The distributional effects …
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This paper offers several contributions to actual research and discussion on monetary policy. It clarifies the relationship between uncertainty of inflation persistence and optimal monetary policy and discusses the consequences of the recent Blanchard proposal to implement a higher inflation...
Persistent link: https://www.econbiz.de/10010294706
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