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The Role of the Monetary Base in Australia
Australian Journal of Management, 1976While the monetary base might be a useful concept for analyzing variation in the money supply, it is a misleading indicator of the central bank's monetary policy. Three intervening institutional considerations are: (1) regulation of interest rates and the central bank's trading in LGS assets with the banks; (2) Government banking with the central bank;
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This brief essay is a working draft of an article in preparation for the forthcoming International Encyclopedia of the Social Sciences, 2nd ed., examining the role of the monetary base in monetary economics and monetary policymaking. Comments are welcome.
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Dynamic Keynesian Model Based on the Monetary Base Rule: Influence of the Japanese Monetary Policy
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Abstract A discussion on monetary base control forms the context of this chapter. It begins by defining what is known as the wide monetary base. It covers the debates over monetary base control by examining ideas presented in the 1980 Green Paper and writings by Friedman.
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