The Role of the Monetary Base in Australia
- 1 April 1976
- journal article
- research article
- Published by SAGE Publications in Australian Journal of Management
- Vol. 1 (1) , 73-83
- https://doi.org/10.1177/031289627600100104
Abstract
While the monetary base might be a useful concept for analyzing variation in the money supply, it is a misleading indicator of the central bank's monetary policy. Three intervening institutional considerations are: (1) regulation of interest rates and the central bank's trading in LGS assets with the banks; (2) Government banking with the central bank; and (3) the role of Australian savings banks. Institutional change would increase the authorities' control over the money supply.Keywords
This publication has 1 reference indexed in Scilit:
- INDICATORS OF MONETARY POLICYEconomic Papers: A Journal of Applied Economics and Policy, 1967