The Role of Policymakers in Business Cycle Fluctuations

by

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This book's central theme is that a policymaker's role is to enhance the public's ability to coordinate their price information, price expectations, and economic activities. This role is fulfilled when policymakers maintain inflation stability. Inflation persists less when an implicit or explicit inflation target is met. Granato and Wong argue that inflation persistence is reduced when the public substitutes the prespecified inflation target for past inflation. A by-product of this co-ordination process is greater economic ...

The Role of Policymakers in Business Cycle Fluctuations 2011, Cambridge University Press, Cambridge

ISBN-13: 9780521390767

Trade paperback

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The Role of Policymakers in Business Cycle Fluctuations 2006, Cambridge University Press, New York

ISBN-13: 9780521860161

Hardcover

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