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Alonso González, Luis Alberto ; García Martínez, Pilar | Facultad de Ciencias Económicas y Empresariales. Decanato | 2004In this article we will show that independence is not enough to impose a given inflation target when the Central Bank is following a Taylor rule, moreover in such a case, the fiscal authority will be able to set a different objective from the on[...]texto impreso
Garcimartín, Carlos ; Rivas, Luis ; García Martínez, Pilar | Instituto Complutense de Estudios Internacionales (ICEI) | 2010-04Broadly speaking, the balance-of-payments constraint hypothesis as developed by Thirlwall has been empirically supported. Yet, it shows some shortcomings highlighted in the literature. In our opinion, two of them must be analysed. First, tempora[...]
