Friedman, Benjamin M.; Kuttner, Kenneth N. - In: Handbook of monetary economics : volume 3, (pp. 1345-1438). 2010
Central banks no longer set the short-term interest rates that they use for monetary policy purposes by manipulating … the fulcrum of monetary policy implementation. The chapter begins with an exposition of the traditional view of the … implementation of monetary policy, and an assessment of the relationship between the quantity of reserves, appropriately defined, and …