Economic Outlook 2012
... “ If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coal mines … It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.” (Keynes, ...
... “ If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coal mines … It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.” (Keynes, ...
foreign reserves and international adjustments under the bretton
... practices: central banks started to accumulate some foreign currencies and influential economists - prominently Cassel and Keynes - made the case for using foreign currencies as reserves rather than specie (de Beaufort Wijnholds 1977, Cesarano 2007, p.119 et al.). In addition, following Keynes’ Trea ...
... practices: central banks started to accumulate some foreign currencies and influential economists - prominently Cassel and Keynes - made the case for using foreign currencies as reserves rather than specie (de Beaufort Wijnholds 1977, Cesarano 2007, p.119 et al.). In addition, following Keynes’ Trea ...
The Science of Monetary Policy
... advocated “opportunistic” approach to fighting inflation may emerge under a non-smooth policy objective function. The opportunistic approach boils down to trying to keep inflation from rising but allowing it to ratchet down in the event of favorable supply shocks. As we illustrate throughout, the op ...
... advocated “opportunistic” approach to fighting inflation may emerge under a non-smooth policy objective function. The opportunistic approach boils down to trying to keep inflation from rising but allowing it to ratchet down in the event of favorable supply shocks. As we illustrate throughout, the op ...
Chapter 36 MC — Five Debates Over Macroeconomic Policy
... a. increased the money supply because it was concerned about unemployment. b. increased the money supply because it was concerned about inflation. c. decreased the money supply because it was concerned about unemployment. d. decreased the money supply because it was concerned about inflation. ANS: A ...
... a. increased the money supply because it was concerned about unemployment. b. increased the money supply because it was concerned about inflation. c. decreased the money supply because it was concerned about unemployment. d. decreased the money supply because it was concerned about inflation. ANS: A ...
Three essays about monetary policy in China - ROS Home
... loans the PBC severely cut commercial banks’ loans for fixed capital formation. Later in 1994, a further enormous rise in inflation hit China with the annual rate reaching 24.2 per cent. This time, the PBC did not increase interest rates; what it relied on was a strict control of the expansion of ba ...
... loans the PBC severely cut commercial banks’ loans for fixed capital formation. Later in 1994, a further enormous rise in inflation hit China with the annual rate reaching 24.2 per cent. This time, the PBC did not increase interest rates; what it relied on was a strict control of the expansion of ba ...
Download paper (PDF)
... monetary policy on the economy has changed in important ways. One possible interpretation is that monetary policy has lost some of its influence on the economy. Indeed, various innovations in firms’ and consumers’ behavior, perhaps induced by technological progress or financial innovations, might ha ...
... monetary policy on the economy has changed in important ways. One possible interpretation is that monetary policy has lost some of its influence on the economy. Indeed, various innovations in firms’ and consumers’ behavior, perhaps induced by technological progress or financial innovations, might ha ...
Contents Isi
... perangkap likuiditas . A central bank cannot, normally, charge negative interest for money, and even charging zero interest often produces less stimulative effect than slightly higher rates of interest. Sebuah bank sentral tidak bisa, biasanya, biaya bunga negatif untuk uang, dan bahkan pengisian bu ...
... perangkap likuiditas . A central bank cannot, normally, charge negative interest for money, and even charging zero interest often produces less stimulative effect than slightly higher rates of interest. Sebuah bank sentral tidak bisa, biasanya, biaya bunga negatif untuk uang, dan bahkan pengisian bu ...
Policy Mix Coherence: What Does it Mean for Monetary
... We thank Etienne Gaudette and all participants at the 51st Congress of the Canadian Association of Economic Sciences (2011, Sherbrooke, Qc, Canada) and the 45th Canadian Economics Association Meeting (2011, Ottawa, On, Canada) for their comments and observations. Rene Tapsoba is grateful to the Foun ...
... We thank Etienne Gaudette and all participants at the 51st Congress of the Canadian Association of Economic Sciences (2011, Sherbrooke, Qc, Canada) and the 45th Canadian Economics Association Meeting (2011, Ottawa, On, Canada) for their comments and observations. Rene Tapsoba is grateful to the Foun ...
The effects of fiscal policy on the conduct and transmission
... fiscal policy stance has an effect on the channels of monetary policy transmission in Zambia. Thus, we conclude that fiscal policy shocks have significant implications for the effectiveness of monetary policy in Zambia. Our evaluation of monetary and fiscal policy in Zambia shows that the country ha ...
... fiscal policy stance has an effect on the channels of monetary policy transmission in Zambia. Thus, we conclude that fiscal policy shocks have significant implications for the effectiveness of monetary policy in Zambia. Our evaluation of monetary and fiscal policy in Zambia shows that the country ha ...
NBER WORKING PAPER SERIES STABILIZING EXPECTATIONS UNDER MONETARY AND FISCAL POLICY COORDINATION
... a zero-debt Ricardian …scal policy, which is understood by households, the analysis here considers a class of locally Ricardian and non-Ricardian …scal policies determined by the dual speci…cation of a tax rule, which is unknown to agents, and choice of debt-to-output ratio. This engenders signi…can ...
... a zero-debt Ricardian …scal policy, which is understood by households, the analysis here considers a class of locally Ricardian and non-Ricardian …scal policies determined by the dual speci…cation of a tax rule, which is unknown to agents, and choice of debt-to-output ratio. This engenders signi…can ...
Chapter 27 Money and Inflation
... (b) the aggregate supply curve to shift left along a stationary aggregate demand curve, leading to continually contracting aggregate output and prices. (c) the aggregate demand curve to shift continually to the right as the aggregate supply curve shifts continually inward, leading to higher and high ...
... (b) the aggregate supply curve to shift left along a stationary aggregate demand curve, leading to continually contracting aggregate output and prices. (c) the aggregate demand curve to shift continually to the right as the aggregate supply curve shifts continually inward, leading to higher and high ...
Fiscal Policy in the EMU and Outside
... value, unless the ratio is sufficiently diminishing and approaching the reference value at a satisfactory pace. The reference values are given in a protocol to the Treaty and are 3 percent for the deficit-to-GDP ratio2 and 60 percent for the debtto-GDP ratio.? The figures apply to the consolidated p ...
... value, unless the ratio is sufficiently diminishing and approaching the reference value at a satisfactory pace. The reference values are given in a protocol to the Treaty and are 3 percent for the deficit-to-GDP ratio2 and 60 percent for the debtto-GDP ratio.? The figures apply to the consolidated p ...
inflation modeling for the sudan 1970-2002
... levels had been resorted almost everywhere. In 1930’s,the great depression spread over to many countries. Most of the industrial countries experienced declining prices and the cost of living decreased substantially. With World war II, inflation reappeared and spread quickly throughout trading nation ...
... levels had been resorted almost everywhere. In 1930’s,the great depression spread over to many countries. Most of the industrial countries experienced declining prices and the cost of living decreased substantially. With World war II, inflation reappeared and spread quickly throughout trading nation ...
Chapter 24 Monetary and Fiscal Policy in the ISLM Model
... (a) increases consumption expenditure by reducing disposable income, thereby shifting the IS curve to the right. (b) increases consumption expenditure by increasing disposable income, thereby shifting the LM curve to the right. (c) increases consumption expenditure by increasing disposable income, t ...
... (a) increases consumption expenditure by reducing disposable income, thereby shifting the IS curve to the right. (b) increases consumption expenditure by increasing disposable income, thereby shifting the LM curve to the right. (c) increases consumption expenditure by increasing disposable income, t ...
An Empirical Analysis on Excessive Reserves in U.S Banking
... Economics textbooks, the amount of excessive reserves should generally remain zero. The rationale behind this assertion is simple: since every dollar held as excessive reserve could be turned into lending either to firms or to other banks (through the Federal Funds market), excessive reserves bear o ...
... Economics textbooks, the amount of excessive reserves should generally remain zero. The rationale behind this assertion is simple: since every dollar held as excessive reserve could be turned into lending either to firms or to other banks (through the Federal Funds market), excessive reserves bear o ...
Monetary Conditions in the Euro Area
... considered to be important, it is tempting for the reader to conclude that economic activity will accelerate once the transmission process from a monetary impulse to the real sphere has run its course in stimulating aggregate demand. This paper takes a closer look at the leading indicator qualities ...
... considered to be important, it is tempting for the reader to conclude that economic activity will accelerate once the transmission process from a monetary impulse to the real sphere has run its course in stimulating aggregate demand. This paper takes a closer look at the leading indicator qualities ...
Global liquidity
... liquid financial assets by domestic residents and the portfolio investment in such liquid assets by non-residents. The former is largely accounted for by domestic monetary liquidity, while the cross-border liquidity provided by international financial markets and internationally active banks constit ...
... liquid financial assets by domestic residents and the portfolio investment in such liquid assets by non-residents. The former is largely accounted for by domestic monetary liquidity, while the cross-border liquidity provided by international financial markets and internationally active banks constit ...
