Spahn, Heinz-Peter - In: Kredit und Kapital 43 (2010) 4, pp. 475-499
-instruments hypothesis is valid in a floor, but not in a corridor system (used by Fed and ECB). Here, central banks are led to supply base …Central Bank Money and Interest Rates: Independent Monetary Policy Tools? Central banks can control the macro economy … asset price bubble, monetary policy should consider a "scissors strategy" (sometimes pursued by the Bundesbank) of …