This market - driven system has created an extremely
stable macroeconomic environment.
For a real - world example of how a system of market - chosen monetary policy would work in the absence of a central bank, one need not look to the past; the example exists in present - day Central America, in the Republic of Panama, a country that has lived without a central bank since its independence, with a very successful and
stable macroeconomic environment.
Not exact matches
Good
macroeconomic policies can, we trust, make some difference at the margin by creating a
stable environment in which others can carry out the important work to understand and address these real problems.