REPLACING THE FOMC BY A PC

Recent behavior of velocity suggests that a stable monetary growth rate rule could have dangerous consequences. Hence this paper suggests a compromise-adjusting the money growth rate only in accordance with past changes in velocity. This preserves most of the benefits of a stable monetary growth rate rule. Copyright 1987 Western Economic Association International.

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Year of publication:	1987
Authors:	MAYER, THOMAS
Published in:	Contemporary Economic Policy. - Western Economic Association International - WEAI, ISSN 1074-3529. - Vol. 5.1987, 2, p. 31-43
Publisher:	Western Economic Association International - WEAI

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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