 An Evaluation of the Performance of P-star as an Indicator of Monetary Conditions in the Perspective of EMU: The Case of FranceChristian Bordes, Eric Girardin () and Velayoudom Marimoutou Chapter 12 in Money and Banking, 1993, pp 220-241 from Palgrave Macmillan Abstract: Abstract The distinction between instruments, intermediate objectives, indicators and final objectives of monetary policy is widely used in academic works as well as by monetary authorities. Among these different concepts, the notion of monetary indicator is the most difficult to handle since it refers in practice to two different concepts (see Dewald, 1967; Davis, 1990). The first one means that the indicator is a scale which is used to measure the orientation of the policy implemented by the authorities (Brunner and Meltzer, 1967; 1969). The second one implies that the indicator provides information on the expansionary or restrictive character of the monetary effects, taken broadly. In order to avoid any confusion, it is better to refer to the first one strictly speaking as a monetary policy indicator and to the second one as an indicator of monetary conditions. Keywords: Monetary Policy; Price Level; Money Supply; Cointegration Test; European Monetary Union (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-13319-2_12 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-13319-2_12 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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