Since 2014
Obiettivi prestabiliti di espressione monetaria: esperienze e problemi
Moneta e Credito
View Archive Info| Field | Value | |
| Title |
Obiettivi prestabiliti di espressione monetaria: esperienze e problemi
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| Creator |
MCCLAM, W.D.
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| Subject |
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Growth targets, monetary policy, interest rate, monetary aggregates E52, E43 |
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| Description |
In recent years a growing number of western European countries have adopted the practice of setting growth targets for money supply and/or other monetary aggregates. For these countries, of course, the new approach has implied a shift away from reliance upon interest rate objectives as an intermediate target of policy. This article looks at the story lying behind the spreading use of this technique. In particular, the author examines whether central banks have suddenly become converted to the precepts of “monetarism”, or rather whether this shift is simply a pragmatic response to changing economic environment. The reasons for the adoption of published monetary targets is first analysed. Then, international comparisons of target fixing and their results are made and the problems of targeting are considered. JEL: E52, E43
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| Publisher |
Associazione Economia civile
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| Contributor |
—
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| Date |
2014-03-25
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Articolo peer-review |
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| Format |
application/pdf
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| Identifier |
http://ojs.uniroma1.it/index.php/monetaecredito/article/view/11840
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| Source |
Moneta e Credito; Vol 31, N° 122 (1978)
Moneta e Credito; Vol 31, N° 122 (1978) 2037-3651 |
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| Language |
ita
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| Relation |
http://ojs.uniroma1.it/index.php/monetaecredito/article/view/11840/11654
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| Rights |
Copyright (c) 2016 W.D. MCCLAM
http://creativecommons.org/licenses/by-nc-nd/4.0 |
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