Bini Smaghi on "secondary objectives"
In his speech 'With or Without Prejudice to Price Stability?' Lorenzo Bini Smaghi, a member of the Executive Board of the European Central Bank, discusses what the central bank can do to achieve its so-called secondary objectives of monetary policy.
Bini Smaghi suggests that the there is a significant difference in the way central bankers and academics on the one hand, and "politicians and commentators" on the other, approach the question of how central banks can best contribute to secondary
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