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monetary policyfiscal monetaryfiscal policynew keynesianmonetary fiscalpolicy interactionstargets centralkeynesian modelmodel liquidityempirical evidenceoecd countriesdynamic equilibriumvar modelsneoklassische syntheseneoclassical synthesisdynamisches gleichgewichtoecd staateninterest rate policyimpact assessmentrule thumbforward lookingkeynesian dynamicequilibrium modelbusiness cyclebank reformsstabilization policyinflation expectationschange reallyreally mattermatter inflationbank reformreform raterate policypolicy oecdexamine extentinflation targetingintroduction inflationvar modellvar modelinterest rate derivativeliquidity constraintsinteractions cyclecycle empiricalfunding conditionsmonetary policiesthumb consumerschanges policyliquidity constraintg7 staateng7 countriesinteractions empiricalevidence optimaloptimal policypolicy usingusing structuralstructural newpolicy rulespaper derivesderives newliquidity constrainedconstrained consumersconsumers stickysticky pricesprices modelmodel allowsallows rolerole governmentgovernment spendingspending taxationtaxation dge
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