THE CHANNELS OF MONETARY POLICY: A FURTHER REPORT ON THE FEDERAL RESERVE—M.I.T. MODEL

Authors

  • Frank de Leeuw,

  • Edward M. Gramlich

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    • Federal Reserve Board of Governors.

      While we take full responsibility for statements in this paper, we stress that credit for the ideas it contains belongs to the entire Federal Reserve-M.I.T. group of which we are only two members. Franco Modigliani, Albert Ando, Charles Bischoff, George de Menil, Dwight Jaffee, and Enid Miller have made especially important contributions to the results reported here; many others have made important contributions to other aspects of the model.


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