On December 12, 2019, Fed in Print will introduce its new platform for discovering content. Please direct your questions to Anna Oates

Home About Latest Browse RSS Advanced Search

Federal Reserve Bank of Kansas City
Economic Review
The role of monetary policy: where does unemployment fit in?
Donald T. Brash

Unemployment is one of the biggest problems facing most OECD countries, and there are strong demands on policymakers to provide solutions. But responsible policymakers must recognize there are clear limits to what monetary policy can do to help lower unemployment. Monetary policy does have an important part to play, but it is not a tool we should use directly to stimulate growth or employment. The best contribution monetary policy can make to growth and employment is to maintain stability in the general level of prices.> In remarks made before the Federal Reserve Bank of Kansas City's 1994 symposium, "Reducing Unemployment: Current Issues and Policy Options," Governor Brash of the Reserve Bank of New Zealand gave his insights into the way this issue has developed in New Zealand and how the Reserve Bank has responded

Download Full text
Cite this item
Donald T. Brash, "The role of monetary policy: where does unemployment fit in?" , Federal Reserve Bank of Kansas City, Economic Review, issue Q I, pages 23-30, 1995.
More from this series
JEL Classification:
Subject headings:
Keywords: Monetary policy ; Unemployment
For corrections, contact LDayrit ()
Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

Privacy Legal