Explain why, in the absence of the time consistency problem, you might expect a central bank to
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Explain why, in the absence of the time consistency problem, you might expect a central bank to be effective at holding the value of its domestic currency at an artificially low level for a sustained period but not at an artificially high level.
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Related Book For
Money Banking and Financial Markets
ISBN: 978-1259746741
5th edition
Authors: Stephen Cecchetti, Kermit Schoenholtz
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