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Monetary and Fiscal Policy in a Liquidity Trap

In: Long-run Growth and Short-run Stabilization

Author

Listed:
  • Alan J. Auerbach
  • Maurice Obstfeld

Abstract

There is much confusion in the economics literature on wage determination and the employment–inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the contributors elaborate on the main issues of economic analysis and policies that concerned him.

Suggested Citation

  • Alan J. Auerbach & Maurice Obstfeld, 2006. "Monetary and Fiscal Policy in a Liquidity Trap," Chapters,in: Long-run Growth and Short-run Stabilization, chapter 8 Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:3299_8
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    Keywords

    Economics and Finance;

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