Fixing the money stock vs. fixing the interest rate a VAR model
The "instrument problem" in monetary policy has centered on the question of whether controlling the money stock or fixing the interest rate is more preferable in terms of higher and more stable output. The former policy implies a stable price level but less investments due to fluctuating i...
| Published in: | The Philippine Review of Business and Economics Vol. XXX, No. 1 (June 1993), p. 101-121. |
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| Main Author: | |
| Format: | Analytics |
| Language: | English |
| Published: |
1993.
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| Subjects: |