And if all else were equal ... monetary policy in the affected countries would have to adjust in response policy would have to act to offset these effects in order to achieve the same impact on the future path of demand and inflation.
And if all else were equal ... monetary policy in the affected countries would have to adjust in response policy would have to act to offset these effects in order to achieve the same impact on the future path of demand and inflation.
To do otherwise would run the risk that monetary policy would be too accommodative, pulling resources from the future in a way that would alter the trajectory for the growth of the capital stock, perhaps amplifying the imbalances, and compromising the price stability.
© 2020 Inspirational Stories
© 2020 Inspirational Stories