000			01538naa a2200193Ia 4500
008			160503s9999 xx 000 0 und d
001			art0531
100			_aLamberte, Mario B.
245			_aControllability of various monetary aggregates /
300			_ap.230-256
490			_aVol. 11 No. 2 Second Sem 1984
520			_aThis study attempts to determine the extent to which the various monetary aggregates can be controlled by the Cental Bank. The Central Bank of the Philippines currently uses monetary aggregates as intermediate targets of monetary policy. The success of this strategy defends on two conditions. One, the aggregates bear a close and predictable relationship to the ultimate target variable, say GNP, which policymakers seek to influence. In this case, the monetary aggregates can indicate what will happen to the ultimate target variable as a result of policy actions taken by the Central bank. The second condition is that the monetary authority can control movements of the aggregates by simply adjusting the instruments of monetary policy as it would be meaningless to target a variable over which Central Bank has no control. The monetary aggregates that satisfy both conditions can then serve as indicators of policy actions as well as movements of economic activity
650			_aCentral Banks
650			_aMonetary aggregates
650			_aMonetary policy
773			_wjpd1 _tJournal of Philippine Development
856			_uhttp://dirp3.pids.gov.ph/ris/pjd/pidsjpd84-2monetary.pdf
942			_cART _2MT
999			_c6961 _d6961