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Does Monetary Policy Have Expansionary Bias with External Wealth?

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  • Takamatsu, Satoko

Abstract

This 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.

Suggested Citation

  • Takamatsu, Satoko, 2008. "Does Monetary Policy Have Expansionary Bias with External Wealth?," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 49(1), pages 1-10, June.
  • Handle: RePEc:hit:hitjec:v:49:y:2008:i:1:p:1-10
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    File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/15880/1/HJeco0490100010.pdf
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    More about this item

    Keywords

    external wealth; monetary policy; corrective tax policies;

    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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