Imagine the government is able to exert control over monetary policy. What happens under adaptive expectations when
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Imagine the government is able to exert control over monetary policy. What happens under adaptive expectations when the government targets a level of output above equilibrium? Is there a short-run trade-off between inflation and unemployment? How about under rational expectations?
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Related Book For 
Macroeconomics Institutions Instability And The Financial System
ISBN: 9780199655793
1st Edition
Authors: Wendy Carlin, David Soskice
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