It probably had about the coverage of the present day FRBUS, and it had many of the then exotic channels of monetary policy. There was a consumption-wealth effect working through equity values and housing values, and both of those prices were endogenous.
Amando M Tetangco, Jr: Capital market education – a tool for market development and financial stability Speech by Mr Amando M Tetangco, Jr, Governor of Bangko Sentral ng Pilipinas (the central bank of the Philippines), at the First National Convention of the Capital Market Institute of the Philippines, Manila, 30 October 2012.