The policy ineffectiveness proposition (PIP) asserts that anticipated monetary policy cannot change real GDP in a regular

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The policy ineffectiveness proposition (PIP) asserts that anticipated monetary policy cannot change real GDP in a regular or predictable way. Suppose that a monetary policymaker not only accepts the PIP, but is interested in adopting monetary policies that stabilize the economy. Explain what monetary polices this policymaker would advocate.
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Macroeconomics

ISBN: 978-0138014919

12th edition

Authors: Robert J Gordon

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