The contributions and limitations of "monetary" analysis
During Voicker's presidency, the role of monetary aggregates as a guide to policy came under increasing public discussion. In this speech, Voicker discusses the advantages and pitfalls of a strategy of targeting monetary aggregates and alternative operating procedures. He argues that monetary targeting imposes a beneficial discipline on Federal Reserve policies. He also notes, however, that instability in velocity over horizons relevant for policy and the possibility of credit market disturbances make attention to other sources of information imperative.
Volume (Year): (1989)
Issue (Month): Special ()
|Contact details of provider:|| Postal: |
Web page: http://www.newyorkfed.org/
More information through EDIRC
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:fip:fednqr:y:1989:i:special:p:35-41. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Amy Farber)
If references are entirely missing, you can add them using this form.