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The approach of this text is to teach monetary economics using the classical paradigm of rational agents in a market setting. Too often monetary economics has been taught as a collection of facts about existing institutions for students to memorize. By teaching from first principles instead, the...
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This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate … for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of … inflation-targeting policies. New material includes labor and financial market frictions, the zero lower bound on nominal …
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