@techreport{NBERw1575,
 title = "Real Interest Rate, Credit Markets, and Economic Stabilization",
 author = "Paul Jenkins and Carl E. Walsh",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "1575",
 year = "1988",
 month = "March",
 URL = "http://www.nber.org/papers/w1575",
 abstract = {The role of a real interest rate and a credit aggregate as intermediate monetary policy targets are investigated under the assumption of rational expectations. The analysis expands a standard aggregate model to include a credit market and a market determined interest rate on bank deposits. This allows the implications for output stabilization of real interest rate policy to be examined for a wider variety of shocks than normally considered in the literature, as well as allowing a credit aggregate policy to be studied.},
}