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Monetary Policy in the Industrial World: Reflections on Some Basic Issues

机译:工业界的货币政策:对一些基本问题的思考

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This paper is a general assessment of monetary policy in major OECD countries during the 1990s. Within a simple policy framework that combines money growth, nominal income, and an open economy IS-LM type Mundell-Fleming model, the paper discusses the major strands in the conduct of monetary policy in developed industrial economies. It throws light on such problems as "rules versus discretion", management of exchange rates, the effect of monetary changes on income and prices, and the rupture of monetary policy with other instruments of economic policy that also affect the economy.
机译:本文是对1990年代主要经合组织国家货币政策的总体评估。在结合货币增长,名义收入和开放经济IS-LM型Mundell-Fleming模型的简单政策框架内,本文讨论了发达工业经济体货币政策实施的主要内容。它揭示了诸如“规则与自由裁量权”,汇率管理,货币变化对收入和价格的影响以及货币政策与其他也会影响经济的经济政策工具破裂的问题。

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