There is no longer any serious debate about whether monetary policy should be conducted according to rules or discretion. Quite appropriately, it is widely agreed that monetary policy should obey a rule, that is, a schedule expressing the setting of the monetary...
CITATION STYLE
Sargent, T. J., & Wallace, N. (1995). Rational Expectations and the Theory of Economic Policy. In Essential Readings in Economics (pp. 366–382). Macmillan Education UK. https://doi.org/10.1007/978-1-349-24002-9_20
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