search query: @author Bisev, G. / total: 3
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| Author: | Bisev, G. |
| Title: | The management strategy of money supply |
| Journal: | Bancni vestnik
1996 : VOL. 45:1-2, p. 21-27 |
| Index terms: | |
| Freeterms: | CENTRAL BANKS, MONETARY POLICY, GOALS, MONEY SUPPLY, STRATEGY |
| Language: | slv |
| Abstract: | The author believes that stability of prices is the primary goal of the central bank.It has been established by empirical research that during the last three decodes there has been no trade off between unemployment and inflation.Central banks can ensure stability of prices by regulating the amount of money in circulation, exchange rate policy and direct inflation targeting.The strategy of interest rates is very important in the short run.However, in the long rung it is abandoned by central banks.In Mocedonia the demand for money is not stable and the money supply is no indicator of future inflation trends.So it is not possible to ensure overall stability by applying the strategy of monetary targeting.However, the author believes that during the transitional period of three years deceleration of monetary growth can be assured. Monetary growth rate reached 26.6 % two years ago, and at the end of the transitional period it should range from 5 to 10 %. |
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