Modern Central Bank Operations – The General Principles

  title={Modern Central Bank Operations – The General Principles},
  author={Scott T. Fullwiler},
  journal={ERN: Monetary Policy Objectives; Policy Designs; Policy Coordination (Topic)},
  • Scott T. Fullwiler
  • Published 1 June 2008
  • Economics
  • ERN: Monetary Policy Objectives; Policy Designs; Policy Coordination (Topic)
The debates between the structuralists and horizontalists within Post Keynesian economics highlighted the fact that endogenous money proponents had a very different understanding of monetary operations than did neoclassical economists. Indeed, as Fullwiler (2003) reports, until recently, research among neoclassicals related to bank behavior in the U. S. federal funds market had little relation to research on the Fed’s behavior, and vice versa, aside from a few notable exceptions. This has all… 
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