Can Monetary Policy Affect the Real Economy?

@article{Arestis2002CanMP,
  title={Can Monetary Policy Affect the Real Economy?},
  author={P. Arestis and M. Sawyer},
  journal={Monetary Economics},
  year={2002}
}
Current monetary policy involves the manipulation of the Central Bank interest rate (the repo rate), with the specific objective of achieving the goal(s) of monetary policy. The latter is normally the inflation rate, although in a number of instances this may include the level of economic activity (the U.S. Federal Reserve monetary policy is a good example of this category). This raises two issues. The first is the theoretical underpinnings of this mode of monetary policy. The second is the… Expand
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