Monetary Actions, Credit Flows and Inflation
The inflation of prices and interest rates over the past four years has resulted from excessive totaldemand.
The inflation of prices and interest rates over the past four years has resulted from excessive totaldemand.
This article evolved from the article “Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization" presented in the November 1968 issue of this Review.
This article attempts to clarify the areas of disagreement between the authors and Frank De Leeuw and John Kalchbrenner's “Comment” in this issue of Review.
This article attempts to derive some lessons of lasting benefit from the failure of British external policy and in particular, British exchange policy during the 1960s.
Net profits at member banks in the Eighth Federal Reserve District rose moderately in 1968. Net income after taxes (net profits) was up about 5% for the year, compared with increases of 8% and 14% in 1967 and 1966, respectively, and an average annual rate of 7% in the 1957-68 period.