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Political Economics and Macroeconomic Policy

  • Persson, T.
  • Tabellini, G.

Traditional macroeconomic policy analysis asks the positive question of how the economy responds to alternative, but exogenous, policy actions or rules. Knowing these responses, the analyst can go to the normative problem of policy advice, The best action or rule is selected, given a specific obkective function. But as macroeconomists, we should also be able to shed light on a more ambitious set of questions. Why is it that we observe such different inflation rates across countries and time?, etc.

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Paper provided by Stockholm - International Economic Studies in its series Papers with number 630.

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Length: 99 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:stocin:630
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