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Two signaling games of monetary policy are considered: game one examines the effect of hysteresis on the labor market … hysteresis. The second game compares weifare effects of monetary target announcements to those of a rigid rule under alternative …
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Since the 1980s there has been a renewed interest in attempts to introduce a sense of history into economic literature. In this book, the authors argue that it is not possible to explain a state of the world without first analysing the processes that lead to that state. The contributions...
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