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Suppose policy makers are no longer certain that on average an interest rate reduction of 2 % would increase output by 1 % If the

Suppose policy makers are no longer certain that on average an interest rate reduction of 2% would increase output by 1% If the range of responses of the different models is 0.1% to 4%, it would be best for policy makers to reduce interest rates by the amount they would otherwise implement if they were certain of the average

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