Notes on Money, Credit, and Open Market Operations
نویسنده
چکیده
These are some notes on a project I am working on as an extension of Williamson (2005b). The basic idea is to explore the implications of market segmentation, where the key novelty involves goods market segmentation and the proximity of connected households to particular goods markets. A connected household is on the receiving end of central bank actions, while an unconnected household is not. This work is related to Tobin-Baumol segmented markets models such as Grossman
منابع مشابه
Adopting Indirect Instruments of Monetary Policy - Finance & Development - March 1996 - William E. Alexander, Tomas J.T. Balino, and Charles Enoch
In the late 1970s, industrial countries began moving toward full reliance on indirect instruments, such as open market operations, rediscount facilities, and reserve requirements. Many developing and transition economies have followed suit. Indirect instruments are more effective than direct instruments in today’s increasingly open economic environment. N IMPLEMENTING monetary policy, a central...
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