Abstract: A Comparison of Alternative Approaches to Monetary Control

William R. McDonough and Clifford L. Fry

Journal of Financial and Quantitative Analysis, 1977, vol. 12, issue 4, 649-649

Abstract: Theoretically the money stock could be controlled by targeting, either a reserve aggregate or the Federal funds rate. In practice, however, one strategy might be more effective than the other if the relationship between its operating variable and the money stock was more predictable.

Date: 1977
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