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Is There a Case for the MTFS?

Abstract:

This paper offers a critique of the macroeconomic policy stance of the U.K. Conservative administration from a policy optimization perspective. Attention is focused on three particular issues which, it is argued, require clarification in the medium term financial strategy. The first concerns the role of nominal GDP; the second is concerned with whether output is an objective of policy alongside inflation; the third concerns the role of fiscal policy. The costs and benefits of the approach tak...

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Journal:
Manchester School of Economic and Social Studies More from this journal
Volume:
61
Publication date:
1993-01-01
ISSN:
0025-2034
Language:
English
UUID:
uuid:6cc3f6a2-3ea3-41d4-a292-cf4a237ed7cc
Local pid:
oai:economics.ouls.ox.ac.uk:11104
Deposit date:
2011-08-16

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