Macro-Economic Policy Objectives
Thus our objective should be, so far as it lies within the power of this country to influence the international price level, first of all to raise prices a long way above the present level and then to maintain them at the level thus reached with as much stability as can be managed.
We recommend that this objective be accepted as the guiding aim of the monetary policy of this country. ...1
KeywordsDomestic Product Foreign Currency Excess Demand Full Employment Price Stability
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