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A more difficult question from a scientific standpoint is the question about the structure of might, the relationship between the various elements of this system, the optimality of its structure and the adequacy of each structural element's contribution to victory. Because specific targeting rules are, by definition, optimality conditions, their implicit policy prescriptions might seem better suited for describing optimal policy, such as the optimal-control approach to monetary policy design. 2] was used as the penalized optimality criterion because it represents an estimate of the percentage of variability explained by the regression, adjusting for the number of covariates. |
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