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Principles of Macroeconomics (Mind...

7th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781285165912

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BuyFindarrow_forward

Principles of Macroeconomics (Mind...

7th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781285165912
Chapter 23, Problem 3QR
Textbook Problem
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What might motivate a central banker to cause a political business cycle? What does the political business cycle imply for the debate over policy rules?

To determine
Monetary policy by discretion.

Explanation of Solution

Central bankers are sometimes tempted to use monetary policy for political business events by influencing the outcomes of elections. A central banker who might be sympathetic to the incumbent knows that the vote is based on the economic conditions at that ...

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