Lecture Money, banking, and financial markets: Chapter 20 - Stephen G. Cecchetti, Kermit L. Schoenholtz
Lecture Money, banking, and financial markets: Chapter 20 - Stephen G. Cecchetti, Kermit L. Schoenholtz
Chapter 20 - Money growth, money demand, and modern monetary policy. The goal of this chapter is twofold: To examine the link between money growth and inflation in order to clarify the role of money in monetary policy, and to explain the logic underlying central bankers’ focus on interest rates.