haku: @indexterm MONEY MARKETS / yhteensä: 577
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| Tekijä: | Pohl, R. |
| Otsikko: | The procyclical impact of German monetary policy |
| Lehti: | Economic Bulletin
1992 : MAY, VOL. 30, p. 1-5 |
| Asiasana: | GERMANY MONETARY POLICY MONEY MARKETS |
| Kieli: | eng |
| Tiivistelmä: | Last year the Bundesbank began to loosen its monetary policy, a reaction to the turbulence and subsequent realignment within the European Monetary System. Yet, the Bundesbank appeared very reluctant to pursue this course further. The author of this article examines the arguments put forward against a rapid cut in money market rates. He claims that an "anticyclical" monetary policy on this pattern exerts a destabilising effect on the entire economy. |
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