という主旨の論文がチューリッヒ大学の3人の経済学者により書かれている(論文のタイトルは「Overvalued: Swedish Monetary Policy in the 1930s」;Mostly Economics経由)。 以下はその結論部の後半。 In particular, monetary economists have cited the Swedish experiment with price level targeting as the prototype of modern inflation targeting. This present paper instead argues that this view overvalues the 1930s as a decade of policy innovation. Before and after the col