The Quarterly Journal of Economics, Vol. 40, No. 3 (May, 1926), pp. 393-401 (9 pages) Elasticity of demand and flexibility of prices, 394.--Equations to simple demand curves, 395.--Partial flexibility ...
Yes, it makes a lot of sense. This paper studies how to design simple loss functions for central banks, as parsimonious approximations to social welfare. We show, both analytically and quantitatively, ...
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