In the NKRE model, suppose a Taylor rule as in Equation (15-8), with -d/a < h <
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In the NKRE model, suppose a Taylor rule as in Equation (15-8), with -d/a < h < 1. What does this imply for: (i) steady state equilibria; (ii) the whole set of equilibria that we could see? Explain with the aid of a diagram.
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From equation 159 in Chapter 15 the slope of the line determining inflation ...View the full answer
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