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Recommended Reading

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I’ve often found the Bank of England’s website a valuable source for reading material and information. They’ve redesigned it recently to make it more accessible to the general user, which has actually made it more difficult to find much of the in-depth information that I find so valuable. Nevertheless, whilst trying to find a piece I had previously read, I found the following handbook on Central Bank Balance Sheets that is really useful, which I would like to recommend to Cullen’s readers:

https://www.bankofengland.co.uk/-/media/boe/files/ccbs/resources/understanding-the-central-bank-balance-sheet.pdf?la=en&hash=0475942A8BE465179CF4CFB4996AF44CDACB1662

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Posted by (Questions: 8, Responses: 99)
Posted on 12/30/2017 9:54 AM
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From the paper
“Any observation of a stable money multiplier relationship between narrow and broad money actually reflects the reverse causality. Broad money adjusts in line with economic activity while narrow money is subsequently adjusted by the central bank to meet imposed requirements.”
Very similar to what is said in threads here.

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Posted by (Questions: 22, Responses: 345)
Answered on 01/05/2018 11:08 AM