The monetary responsibilities of a central bank

Robert L. Hetzel

Economic Review, 1988, vol. 74, issue Sep, 19-31

Abstract: This article provides an analytical framework for discussing the monetary responsibilities of a central bank. The framework shows how the central bank gives the price level a well-defined equilibrium value and how the central bank causes this equilibrium value to change over time.

Keywords: Monetary policy; Banks and banking, Central; Money supply (search for similar items in EconPapers)
Date: 1988
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