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What is the welfare-based optimal monetary policy rule? How do the slope of the Phillips curve and the degree of central banks preference for inflation
What is the welfare-based optimal monetary policy rule? How do the slope of the Phillips curve and the degree of central bank’s preference for inflation stabilization affect the shape of the optimal monetary targeting rule and the cost of disinflation? Is it possible that disinflation is costless? Explain.
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Economics of Money Banking and Financial Markets
Authors: Frederic S. Mishkin
12th edition
134733821, 134733827, 9780134734507 , 978-0134733821
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