Chapter 14: Inflation Targeting by the ‘Tyrannical Auctioneer’: The Predominance of a Normative Approach in Monetary Policy
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14. Inflation targeting by the ‘tyrannical auctioneer’: the predominance of a normative approach in monetary policy Etelberto Ortiz Cruz 1. THE ISSUES How is it possible that the usual recipe for orthodox monetary policy persists, in spite of its ...

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