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What are fiscal policy rules? What are the principal benefits and drawbacks associated with...

This paper provides new evidence on the effectiveness of expenditure rules. The analysis isbased...

This paper draws attention to inconsistencies in estimating simple monetary policy rules and...

This paper assesses the impact of different types of flexible fiscal rules on the procyclicality...

Since 1996, the Bank of Jamaica (BoJ) has sought to limit changes in the exchange rate for the...

We study the welfare properties of an economy where both monetary and fiscal policy follow simple...