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An appropriate (interim) notion of the core for an economy with incomplete information depends on the amount of information that coalitions can share. The coarse and fine core, as originally defined by Wilson (1978), correspond to two polar cases, involving no information sharing and arbitrary...
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flexibility and credibility; similarly, New Zealand's improved inflation performance was achieved without a discernable increase …Since 1990, a number of countries have adopted inflation targeting as their declared monetary strategy. Interpretations … of the significance of this movement, however, have differed widely. To some, inflation targeting mandates the single …
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