The Use of Credit Ceilings in the Presence of Indirect Monetary Instruments : An Analytical Framework

An Analytical Framework

The Use of Credit Ceilings in the Presence of Indirect Monetary Instruments : An Analytical Framework
In this paper, we introduce credit ceilings in the standard model of the money multiplier and analyze their role in central bank's management of money supply in the presence of indirect monetary instruments. We show that under a regime of total credit ceilings, their optimal value equals the desired growth rate of the adjusted monetary base.... READ MORE...

Publication date: December 2002
ISBN 9781451874617
$15.00

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