Browsing Norges Banks publikasjonsserier / Norges Bank publication series by Subject "Taylor principle"
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Government Spending and the Taylor Principle
(Working Papers;11/2006, Working paper, 2006)This paper explores how government size affects the scope for equilibrium indeterminacy in a New Keynesian economy where part of the population live hand-to-mouth. I find that in this framework, a larger public sector may ...