Monetary Policy: Mechanisms and Outcomes
AbstractThe monetary policy in 1991 followed two main objectives. First,it was to equilibrate the money market by reducing the high money supply to the economically founded money demand. The second objective was to avoid the hyperinflation that could result after the liberalization of prices. A broad spectrum of instruments was used to achieve these targets but the most important ones were the direct measures. It could be concluded that the monetary policy as a whole fulfilled the objectives despite some turbulence in the summer.
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Bibliographic InfoPaper provided by Agency for Economic Analysis and Forecasting in its series Working paper series with number 81992en.
Length: 14 pages
Date of creation: Mar 1992
Date of revision:
refinancing; interbank market; credit ceilings; interest rates;
Find related papers by JEL classification:
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
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