Browsing Faculté des arts et des sciences – Département de sciences économiques by Subject "Nonlinear dynamics"
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Monetary Policy When Wages Are Downwardly Rigid: Friedman Meets Tobin
(Université de Montréal. Département de sciences économiques., 2009-11)In a monetary economy with downwardly rigid wages, the central banker should target a low, but strictly positive, inflation rate.