Flexible and fixed target stabilisation in an open economy
The underlying theme of this study is to examine and compare the effectiveness and consequences of implementing two alternative stabilisation techniques in an open economy. The study incorporates an applied extension of recent theoretical stabilisation developments. In particular, the familiar optimisation or flexible target technique is compared with the new dynamic Tinbergen or fixed target technique. Essentially, the fixed target approach allows the policy-maker to exactly achieve a...[Show more]
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