Monetary policies refer to the actions of central banks aimed to achieve macroeconomic stability and to influence financial factors such as money and interest rate. This paper discusses the framework for analyzing how monetary instruments affect monetary targets and the advantages and disadvantages of various instruments dispensable by the central bank. It also argues for the use of open market operations.
The Philippine Journal of Development (PJD) is a multidisciplinary, peer-reviewed journal published biannually by the Philippine Institute for Development Studies (PIDS). It serves as a platform for disseminating policy-oriented research on development issues, including the economy, business, public administration, foreign relations, sociology, and political dynamics.
P-ISSN 2508-0954 • E-ISSN 2508-0849 • https://doi.org/10.62986/pjd