Monetary policy has traditionally been viewed as theprocess by which a central bank uses its influence overthe supply of money to promote its economic objectives. Forexample, Milton Friedman (1959, p. 24) defined the tools ofmonetary policy to be those “powers that enable the [FederalReserve]...

Since independence, the Melanesian central banks of the Reserve Bank of Fiji, Bank of Papua New Guinea, Central Bank of Solomon Islands and Reserve Bank of Vanuatu have operated autonomously in their respective domestic economies through troublesome times. In one form or another, they have had...

Since independence, the Melanesian central banks of the Reserve Bank of Fiji, Bank of Papua New Guinea, Central Bank of Solomon Islands and Reserve Bank of Vanuatu have operated autonomously in their respective domestic economies through troublesome times. In one form or another, they have had...