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This paper demonstrates how a target for money growth can be beneficial for an inflation targeting central bank acting under discretion. Because the growth rate of money is closely related to the change in the interest rate and he growth of real output, delegating a money growth target to the...
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objectives in an optimal manner to this day. Considering that the quantity theory of money underlying monetary targeting is also … the theory should also help to strengthen trust in central banks and reduce the damage caused by cryptocurrencies. …
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