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Monetary policy and real economic growth

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  • Owen F. Humpage

Abstract

An examination of the connections between monetary policy changes, shifts in aggregate spending, and adjustments to production, showing that although a central bank may periodically exploit the connection between short-term monetary expansions and real economic growth, frequent attempts may ultimately distort the allocation of resources from productive uses to protective enterprises and result in proportionally higher inflation.

Suggested Citation

  • Owen F. Humpage, 1996. "Monetary policy and real economic growth," Economic Commentary, Federal Reserve Bank of Cleveland, issue Dec.
    • Handle: RePEc:fip:fedcec:y:1996:i:dec
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    Keywords

    Economic development; Monetary policy;

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