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works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal … theory of the price level is a fallacy and how to escape from the zero lower bound. …
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"Over the last three decades, inflation targeting (IT) has become the most popular monetary policy framework among larger economies. At the same time, its constituting features leave room for different interpretations, translating into various central banks' institutional set-ups. Against this...
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