Effectiveness of Specific Monetary Policy by the Currency Board
This paper asks if when the monetary authority works under the rules of Currency Board, the weakness of IS–LM model for analysis the influence of monetary policy on the aggregate output reveals. The main result is that by the Currency Board the weakness does not exist. In this case the monetary policy keeps the role to influence on the aggregate supply. The result is testing in the case of Bulgaria for the period 2007–2012. Copyright CEEUN 2013
Volume (Year): 20 (2013)
Issue (Month): 3 (November)
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- Bennett T. McCallum & Edward Nelson, 1997.
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NBER Working Papers
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