Monetary base and the control of credit in Italy

Authors

  • A. FAZIO

DOI:

https://doi.org/10.13133/2037-3643/11731

Keywords:

Monetary policy, credit control, monetary base, interest rates, Italy

Abstract

The most important instrument at the disposal of monetary authorities for the control of credit and the achievement of economic policy objectives consists in the regulation of the quantity of the monetary base. The present paper attempts to define the concept of monetary base, in general and in the Italian system, and then, by way of some econometric analysis, tries to estimate the effects of variations in the amount of monetary base on the level of interest rates and on the amount of credit. The empirical analysis is meant to be a test of the ways through which monetary base affects the amount of credit and interest rates, rather than a complete analysis of the behaviour of the demand for monetary base by the public and of the factors which influence the demand and supply of credit.


JEL: E43, E51, E52

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Published

2014-03-03

How to Cite

FAZIO, A. (2014). Monetary base and the control of credit in Italy. PSL Quarterly Review, 22(89). https://doi.org/10.13133/2037-3643/11731

Issue

Vol. 22 No. 89 (1969)

Section

Editorial

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