REPLACING THE FOMC BY A PC
Recent behavior of velocity suggests that a stable monetary growth rate rule could have dangerous consequences. Hence this paper suggests a compromise-adjusting the money growth rate only in accordance with past changes in velocity. This preserves most of the benefits of a stable monetary growth rate rule. Copyright 1987 Western Economic Association International.
Year of publication: |
1987
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Authors: | MAYER, THOMAS |
Published in: |
Contemporary Economic Policy. - Western Economic Association International - WEAI, ISSN 1074-3529. - Vol. 5.1987, 2, p. 31-43
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Publisher: |
Western Economic Association International - WEAI |
Saved in:
freely available
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