Does Monetary Policy Have Expansionary Bias with External Wealth?
AbstractThis paper investigates how the accumulation of external wealth affects a monetary policy. We demonstrate that though an expansionary bias emerges in a monetary policy, a fiscal method can eliminate such a bias.
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Bibliographic InfoArticle provided by Hitotsubashi University in its journal Hitotsubashi Journal of Economics.
Volume (Year): 49 (2008)
Issue (Month): 1 (June)
external wealth; monetary policy; corrective tax policies;
Find related papers by JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
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