Monetary Policy within the IS-LM Framework

The majority of economists would admit that money is powerful and that changes in money will impact the economy. Monetary theory analyzes and determines how changes in the supply of money affect the economy. This book details the collection of policies that use monetary tools known as monetary policy. For example, the main monetary authority of a country is its central bank. In the United States it is called the Federal Reserve Bank System (Fed), which is a federation of 12 Federal Reserve ...