On the scope of Dutch monetary policy ...

The performance of the Netherlands central bank and its monetary policy in the face of its inability to control monetary supply is analysed through a structural model. Findings show that the monetary policy that the Dutch bank has adopted, considering the above constraint, should be fairly effective especially if there is a perfect substitutability between domestic and foreign assets. This fact, however, has not been clearly established. JEL Codes: E52 ... : PSL Quarterly Review, V. 48, N. 193 (1995) ...