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Federal Reserve Bank of Cleveland
Economic Review
The benefits of interest rate targeting: a partial and a general equilibrium analysis
Charles T. Carlstrom
Timothy S. Fuerst
Abstract

An argument that an interest rate peg is desirable because it mitigates the distortions that arise in a monetary economy, and that money growth should be procyclical in order to achieve the interest rate peg.


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Charles T. Carlstrom & Timothy S. Fuerst, "The benefits of interest rate targeting: a partial and a general equilibrium analysis" , Federal Reserve Bank of Cleveland, Economic Review, issue Q II, pages 2-14, 1996.
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