English, Article, Journal or magazine article edition: Interest rate smoothing and price level trend-stationarity Marvin Goodfriend

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Bookmark: http://trove.nla.gov.au/version/75063
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Interest rate smoothing and price level trend-stationarity
Author
  • Marvin Goodfriend
Physical Description
  • preprint
Notes
  • For industrial countries in the post-war period, the price level and the money stock have displayed little tendency to revert to given growth paths. Indeed, this stylized fact is frequently referred to by monetarist critics of central banks, who point out that periods of temporarily high or low money growth, rather than being subsequently reversed, typically alter the level of money stock and prices permanently.
  • Money supply ; Monetary policy ; Interest rates
  • RePEc:fip:fedrwp:87-03
Language
  • English
Contributed by
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