From Direct to Indirect Monetary Policy Instruments : The French Experience Reconsidered

The French Experience Reconsidered

From Direct to Indirect Monetary Policy Instruments : The French Experience Reconsidered
If not carefully planned, the transition to indirect monetary policy instruments may result in a loss of control. The 1967-71 attempt in France failed because of a misconceived instrument-mix and sequencing. Credit controls, reintroduced in 1972, were only formally abolished in 1987. This paper attributes the successful 1987 reform to changes in... READ MORE...

Publication date: March 1991
ISBN 9781451979169
$15.00

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