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An alternative may lie in considering models in which the equilibrium is indeterminate. See Farmer (1999) for a discussion of the relation between these models and New Keynesian models.
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© 2005 Springer-Verlag Berlin Heidelberg
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(2005). Concluding Remarks. In: Monetary Policy and the German Unemployment Problem in Macroeconomic Models. Kieler Studien - Kiel Studies, vol 334. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-37679-8_7
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DOI: https://doi.org/10.1007/3-540-37679-8_7
Publisher Name: Springer, Berlin, Heidelberg
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