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Decision interactions of the monetary and fiscal authorities in the choice of policy mix
equilibrium monetary-fiscal games independent decisions monetary policy
2011/8/21
This article presents an analysis of the states of equilibrium and Pareto optimality of the solutions in the monetary-fiscal games between the fiscal and monetary authorities each having either two or...
monetary policy was not widely considered a particularly interesting
or important topic. The predominant view was that the main function
of monetary policy was to “stimulate” debt-financed purchases...