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Is monetary policy becoming less effective?

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  • Fair
  • Ray C.

Abstract

This paper estimates the amount by which the effectiveness of monetary policy in changing real output for a given change in interest rates has declined due to the increased size of the federal government debt.

Suggested Citation

  • Fair & Ray C., 1995. "Is monetary policy becoming less effective?," Working Papers in Applied Economic Theory 95-05, Federal Reserve Bank of San Francisco.
  • Handle: RePEc:fip:fedfap:95-05
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    File URL: http://cowles.econ.yale.edu/P/cd/d10b/d1071.pdf
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    References listed on IDEAS

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