This article provides an analytical framework for discussing the monetary responsibilities of a central bank. The framework shows how the central bank gives the price level a well-defined equilibrium value and how the central bank causes this equilibrium value to change over time.Monetary policy ; Banks and banking, Central ; Money supply

Robert L. Hetzel

English

Research Papers in Economics

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What Really Went on

The monetary responsibilities of a central bank

http://www.richmondfed.org/publications/research/economic_review/1988/pdf/er740503.pdf

The monetary responsibilities of a central bank

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Research Papers in Economics