The design of monetary policy for development

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Chapter 4 in Macroeconomics for Development, 2023, pp 48-65 from Edward Elgar Publishing

Abstract: This chapter overviews the role of money in the economy, in particular the three prices of money. It then develops a basic macroeconomic model in its closed and open economy forms. It then develops the Taylor rule and discusses implications of its usage. It develops a critique of the use of inflation targeting as monetary policy in developing countries.

Keywords: Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2023
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