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Monetary Policy Under Commitment

Rusty Cogs 08 · 2011-02-16 19:30:13

Anybody able to give me an explanation in layman's terms ? Cheers

16-02-2011 7:30pm

#1

Rusty Cogs 08

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Anybody able to give me an explanation in layman's terms ?

Cheers

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#2 17-02-2011 2:04am

andrew

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What do you mean by commitment?

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#3 18-02-2011 1:37pm

Rusty Cogs 08

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Germany is said to tackle inflation by having a 'monetary policy under commitment'. I don't know what is meant by that ?

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#4 19-02-2011 11:53pm

andrew

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I presume it means that the Germany, ever since Wiemar era hyperinflation, was committed to ensuring low inflation, even if this were to mean higher unemployment. Committed as in everyone expected the Germans to ensure low inflation into the future, and to adopt policy commensurate with that objective.

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