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USA, which we call "mini trade wars": the Hormones, the Bananas, the Foreign Sales Corporations and the Steel cases. The …
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A persistent criticism of general equilibrium models of monetary policy which incorporate nominal inertia in the form of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In this paper we derive a general equilibrium model based on...
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