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Erschienen in:
2001 | OriginalPaper | Buchkapitel
The Monetary Transmission Process: Concluding Remarks
verfasst von : Otmar Issing
Erschienen in: The Monetary Transmission Process
Verlag: Palgrave Macmillan UK
Enthalten in: Professional Book Archive
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In order to be successful in conducting monetary policy, central banks need to have a good understanding of the working of the economy, including an accurate assessment of the timing and the effects of changes in the policy instrument on inflation and economic activity — that is, the monetary transmission process (MTP). Such an assessment is necessary in order to tailor the policy response to unexpected developments in the economy and successfully maintain price stability.