Is Monetary Policy Becoming Less Effective?

Ray Fair ()

No 1071, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: This paper estimates the amount by which the effectiveness of monetary policy in changing real output has declined due to the increased size of the federal government debt.

Pages: 17 pages
Date: 1994-04
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Working Paper: Is monetary policy becoming less effective? (1995)
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