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"International Spillovers of Monetary Policy," IFDP Notes.
The paper evaluates the distributional effect of monetary policy.
Application is made to the evaluation of monetary policy rules.
Any use of monetary policy entails risks, of course.
The other major criticism is of monetary policy.
But this drop is a function of monetary policy only.
This is a clear relaxation of monetary policy.
What kind of monetary policy is it?
If delegation of monetary policy is viable, the optimal policy is to issue nominal debt.
Interest and Prices: Foundations of a Theory of Monetary Policy.
The controversy lay mainly between the advocates of "monetary policy" and the advocates of "fiscal policy".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com