Bibow, Jörg (contributor) - 2001
monetary policies of quick and drastic
interest rate cuts from (not quite so) Black Wednesday onwards. These were accompanied … effects on monetary stance.
Effectively, a MCI combines two indicators of monetary stance, a short-term interest rate and the … interest rate reductions. Note, then, that if the Bundesbank's stance was restrictive at any
time in the early 1990s, its …