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Broken Ladder: Was Monetary Policy Effective?

In: Monetary Whispers Across Space

Author

Listed:
  • Iwan J. Azis

    (Cornell University, Dyson School of Applied Economics)

Abstract

The main goal of monetary policy is to achieve economic stability and growth with certain targets to meet using a variety of monetary tools. Price stability is the most conventional goal where the target is to keep inflation at a certain level or within a specified range. The purpose is to protect the purchasing power of money and to enable businesses to make plans with more certainty. Related to price stability is exchange rate stability, because high inflation can be triggered by currency instability. Having a stable exchange rate allows monetary authority to better control inflation and achieve other macroeconomic goals using monetary tools such as interest rates. The stability of the price and exchange rate also helps maintain the social stability and cohesion needed for business and economic activities to operate without disruptions or disturbances due to unrest.

Suggested Citation

  • Iwan J. Azis, 2026. "Broken Ladder: Was Monetary Policy Effective?," Springer Books, in: Monetary Whispers Across Space, chapter 0, pages 77-92, Springer.
    • Handle: RePEc:spr:sprchp:978-981-95-4625-1_5
    DOI: 10.1007/978-981-95-4625-1_5
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