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The Financial Effects Of Monetary Policy On Interest Rates
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In summary of Michael Darby’s article involving , three specific effects emerge as the most influential. Darby suggests that an increase in the rate of growth of the money supply leads to a pattern of changes in the interest rate that reflects the interaction of the liquidity, income, and expectations effects which vary over time in relative s ....
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....est rate on investment demand and of excess cash balances on purchases of consumers’ durable goods and by indirect multiplier effects of the direct increase in spending” (Darby 1975). This then contributes to an increase in income and prices, which then increases the demand for money. This effect is depicted in graph #1 below.
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| Word count: 1334 |
Page count: 5 |
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