Macroeconomic models assume that the money supply is exogenously specified by the central bank. If this is

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“Macroeconomic models assume that the money supply is exogenously specified by the central bank. If this is so, there is no purpose to the specification and estimation of money supply functions.” Discuss this statement. How would you verify its validity?

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Monetary Economics

ISBN: 9780415772099

2nd Edition

Authors: Jagdish Handa

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