9. In some countries, the government chooses the head of the central bank. The same government can...

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9. In some countries, the government chooses the head of the central bank. The same government can fire the head of the central bank and replace him or her with another director at any time. Explain the implications of such a situation for the conduct of monetary policy. Do you think the central bank will follow a monetary policy rule, or will it engage in discretionary policy?

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