For monetary policy based on the money stock to succeed, we need the money multiplier to vary significantly in response to policy actions.

Name: For monetary policy based on the money stock to succeed, we need the money multiplier to vary significantly in response to policy actions.
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For monetary policy based on the money stock to succeed, the money multiplier should remain stable, not vary significantly, to ensure predictable effects of policy actions on the money supply.

For Monetary Policy Based on the Money Stock to Succeed