Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Question
Chapter 15, Problem 9PA
(a)
To determine
The inflation as a function of only lagged inflation, and
(b)
To determine
Analyze the situation that if the central bank does not respond to changes in output and only cares about the changes in inflation.
(c)
To determine
Analyze the situation that if the central bank does not respond to changes in inflation and only cares about the changes in output.
(d)
To determine
How the shock to demand or supply does influence the path of inflation if the central bank does not follow Taylor principle.
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