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1 results

  • 1 - The Goals of Economic and Monetary Policy

  • from Part I - What Is the Goal of Korean Monetary Policy?
  • Woosik Moon, Seoul National University
  • Book:
    Monetary Policy and Central Banking in Korea
    Published online:
    17 February 2022
    Print publication:
    24 February 2022, pp 3-28

  • Summary

    Economic policy refers to the actions of the state in defining its objectives and using appropriate instruments to achieve them. The objectives of government in this regard are high long-run economic growth, equitable distribution of income and wealth, and stable prices and output. Macroeconomic policies, represented by monetary and fiscal policies, are just those intended to stabilise prices and output. This chapter begins by examining historically how these policy objectives have been addressed by the Korean government, and, against this backdrop, looks at the goals of macroeconomic policy, and especially monetary policy in Korea.