Choosing between Money Targets and Targets for Credit

Bruce Brittain
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Bruce Brittain: Bank for International Settlements

Chapter 2 in Monetary Targets, 1981, pp 62-94 from Palgrave Macmillan

Abstract: Abstract Central banks have an important potential role in stabilising the economic activity of modern economies. Exactly what the role entails, however, is a matter of debate. Whether monetary authorities should seek stable conditions in credit markets or whether they should stabilise economic activity by minimising fluctuations in the growth of the money supply is currently a point of controversy in most countries. The purpose of this paper is to explore some of the empirical evidence that bears on this issue.

Keywords: Interest Rate; Central Bank; Money Supply; Real Interest Rate; Nominal Interest Rate (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16555-1_3

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DOI: 10.1007/978-1-349-16555-1_3

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