On the Optimal Adherence to Money Targets in a New-Keynesian Framework : An Application to Low-Income Countries

An Application to Low-Income Countries

On the Optimal Adherence to Money Targets in a New-Keynesian Framework : An Application to Low-Income Countries
Many low-income countries continue to describe their monetary policy framework in terms of targets on monetary aggregates. This contrasts with most modern discussions of monetary policy, and with most practice. We extend the new-Keynesian model to provide a role for "M" in the conduct of monetary policy, and examine the conditions under which... READ MORE...

Publication date: June 2010
ISBN 9781455201174
$18.00

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