【ppt精品課件】貨幣金融學(xué)7版英文課件--ch21-大學(xué)課(編輯修改稿)
2025-01-21 13:29 本頁面
【文章內(nèi)容簡介】 licy Strategies 7 169。 2023 Pearson Education Canada Inc. Moary Targeting Canada 1. Targets M1 till 1982, then abandons it 2. 1988: declining ? targets, M2 as guide United Kingdom 1. Targets M3 and later M0 2. Problems of M as moary indicator Japan 1. Forecasts M2 + CDs 2. Innovation and deregulation makes less useful as moary indicator 3. High money growth 19871989: “bubble economy,” then tight money policy Germany and Switzerland 1. Not moarist rigid rule 2. Targets using M0 and M3: changes over time 3. Allows growth outside target for 23 years, but then reverses overshoots 4. Key elements: flexibility, transparency, and accountability 169。 2023 Pearson Education Canada Inc. 8 Moary Targeting Advantages 1. Able to cope with domestic considerations 2. Signals are immediate 3. Immediate accountability of central bank Disadvantages 1. Big if: all advantages require reliable relationship between goal and targeted aggregate 2. In many cou
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