| 姓名：Edmond |  | 5.188.211.** | | 時間：2021/3/7 下午 03:12:23 | | ☆☆☆☆☆ | | A First Class stamp ***://deksonbattery.com/zyprexa-25-mg-kullananlar-polq zyprexa 10 mg kosten The second cost of fixed monetary rules comes from the possibility of multiple equilibria. In any model that allows the possibility of multiple equilibria and allows monetary policy to have real impact, there is a possibility that monetary policy can be used to jolt the economy from a bad equilibrium to a good equilibrium. The character of all of the standard monetary rules, no matter how the feedback operates, is such that they would stabilize the price level as the economy grows according to its unique equilibrium in the model that is assumed. In a high-unemployment trap,it may well be desirable to use monetary policy to jolt the economy out of that trap, and I don't see any way that a monetary rule is going to do that. Monetary institutions can do the work of monetary rules. What sort of institutions will work? The same kind of institutions we use for the Supreme Court: appointing people in a way to make them not politically responsive. In addition, we can appoint people who may not share the values of the populace, but instead share the values to which we're seeking a commitment. I think it's a fair assumption that Lee Hoskins' attitude toward inflation is much more hostile than that of the median American voter and this is exactly appropriate.
| |