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Endogenous Monetary Policy in Macroeconomic Models: The Role of Commitment, Conservative Central Banker and Optimal Central Bank Contracts in the Credibility of Monetary Policy
(Valtion taloudellinen tutkimuskeskus VATT, 1996-01-01)
This study focuses on the motives and constraints of the monetary policy authorities, i.e. the central banks.
The fundamental theme is that the policy variable (inflation) is endogenous in the analysis. The behavior of ...
Essays on Timber Supply and Forest Taxation
(Valtion taloudellinen tutkimuskeskus VATT, 1996-01-01)
By using the two-period model, this study analyzes the effects of forest taxation on the short-term timber supply of nonindustrial private forest owners. The study consists of three separate articles and a note that have ...