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Lilia Maliar

Papers by Lilia Maliar tracked in the Macro Paper Warehouse.

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Online First Journal of Money, Credit and Banking Online 12 Sep 2026
The Power of Open-Mouth Policies

Vadym Lepetyuk · Lilia Maliar · Serguei Maliar · John B. Taylor

When a central bank announces a policy it will not implement for some time, households and firms respond straight away. This paper measures how much of a policy's effect arrives in that anticipation …