*Suppose a central bank is trying to decide whether to target money growth. Proponents of the move...

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*Suppose a central bank is trying to decide whether to target money growth. Proponents of the move are confident that the new policy would be successful as, under the existing policy regime, they observed a stable statistical relationship between money growth and inflation. What warning might you issue to the central bank when they ask your advice?

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Money Banking and Financial Markets

ISBN: 978-0078021749

4th edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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