The Future of Monetary Policy: The Central Bank as an Army With Only a Signal Corps
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The influence of monetary policy over interest rates, and via interest rates over nonfinancial economic activity, stems from the central bank's role as a monopolist over the supply of bank reserves. Several trends already visible in the financial markets of many countries today threaten to weaken or
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美国国家经济研究局创建时间：
1999-11-01
