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Persistent link: https://www.econbiz.de/10003198117
"This paper revisits the issue of money growth versus the interest rate as the instrument of monetary policy. Using a dynamic stochastic general equilibrium framework, we examine the effects of alternative monetary policy rules on inflation persistence, the information content of monetary data,...
Persistent link: https://www.econbiz.de/10002404915
This paper revisits the issue of money growth versus the interest rate as the instrument of monetary policy. Using a dynamic stochastic general equilibrium framework, we examine the effects of alternative monetary policy rules on inflation persistence, the information content of monetary data,...
Persistent link: https://www.econbiz.de/10014063582
An examination of the compositional changes in the monetary aggregates M1 and M1A, with a discussion of their behavior in the 1980s and some issues relevant to the possibility of replacing M1 with M1A in the monetary targeting framework.
Persistent link: https://www.econbiz.de/10005720948
This paper revisits the debate over the money supply versus the interest rate as the instrument of monetary policy. Using a dynamic stochastic general equilibrium framework, the authors examine the effects of alternative monetary policy rules on inflation persistence, the information content of...
Persistent link: https://www.econbiz.de/10005415049