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A Single or Dual Mandate?

August 12, 2015

The dual mandate presents a potential problem for the monetary authorities. If money is only a veil, the dual mandate is doomed to fail. Attempts to affect the long run growth rate will be unsuccessful. The only effect of the monetary actions will be on the price level.

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The ValueTiming™ strategy is based on the assumption that politicians and policymakers have particular views of the world, and that they will in general adopt policy measures that are consistent with these views.


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