Explain why monetary policy makers cannot restore the original long-run equilibrium of the economy if, in the

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Explain why monetary policy makers cannot restore the original long-run equilibrium of the economy if, in the short run, the economy has moved to a point where inflation is above target inflation and output is below potential output.

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Money Banking and Financial Markets

ISBN: 978-0078021749

4th edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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Question Posted: Oct 02, 2014 08:16 AM

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Explain why monetary policy makers cannot restore the original long-run equilibrium of the economy if, in the

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Money Banking and Financial Markets

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