Journal Article
Monetary policy and real economic growth
Abstract: An examination of the connections between monetary policy changes, shifts in aggregate spending, and adjustments to production, showing that although a central bank may periodically exploit the connection between short-term monetary expansions and real economic growth, frequent attempts may ultimately distort the allocation of resources from productive uses to protective enterprises and result in proportionally higher inflation.
Keywords: Economic development; Monetary policy;
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 1996
Issue: Dec
Order Number: 1