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Implementation of Monetary Policy: How Do Central Banks Set Interest Rates?

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NBER2010-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w16165
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Central banks no longer set the short-term interest rates that they use for monetary policy purposes by manipulating the supply of banking system reserves, as in conventional economics textbooks; today this process involves little or no variation in the supply of central bank liabilities. In effect,
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2010-07-01
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