Monetary Economics, 2nd Edition
... Stylized facts on money demand and supply, and the relationships between monetary policy, inflation, output and unemployment in the economy. Theories on money demand and supply, including precautionary and buffer stock models, and monetary aggregation. Cross-country comparison of central banking and ...
... Stylized facts on money demand and supply, and the relationships between monetary policy, inflation, output and unemployment in the economy. Theories on money demand and supply, including precautionary and buffer stock models, and monetary aggregation. Cross-country comparison of central banking and ...
The American Economy : A Historical Encyclopedia
... system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, except for the inclusion of brief quotations in a review, without prior permission in writing from the publishers. Library of Congress Cataloging-in-Publication Data The American econo ...
... system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, except for the inclusion of brief quotations in a review, without prior permission in writing from the publishers. Library of Congress Cataloging-in-Publication Data The American econo ...
Paper Money Collapse
... Mankind has used money for more than 2500 years. For most of history money has been a commodity and most frequently gold or silver. There are good reasons why gold and silver have held this unique position. These precious metals possess some characteristics that make them particularly useful as mone ...
... Mankind has used money for more than 2500 years. For most of history money has been a commodity and most frequently gold or silver. There are good reasons why gold and silver have held this unique position. These precious metals possess some characteristics that make them particularly useful as mone ...
The Concept of Monetary Sovereignty Revisited
... Approaching the concept of monetary sovereignty that way invites the undertaking of judgements over the degree to which a given state, the members of a monetary union, or the international community as a whole should be considered as having preserved or as having lost their respective monetary sover ...
... Approaching the concept of monetary sovereignty that way invites the undertaking of judgements over the degree to which a given state, the members of a monetary union, or the international community as a whole should be considered as having preserved or as having lost their respective monetary sover ...
The Ethics of Money Production
... is supposed to be most concerned about money production, namely, economic science. There are innumerable economic writings on money and banking, but the number of works that are truly helpful in understanding the moral and spiritual issues of money production is rather small. The more recent literat ...
... is supposed to be most concerned about money production, namely, economic science. There are innumerable economic writings on money and banking, but the number of works that are truly helpful in understanding the moral and spiritual issues of money production is rather small. The more recent literat ...
Microfoundations and Macroeconomics: An Austrian perspective
... time and money are so abstract and unrealistic as to prevent serious consideration of how the markets for each actually behave. An Austrian macroeconomics is one in which time and money, and the institutions that surround them, are taken seriously. For money, that means recognizing its role as a med ...
... time and money are so abstract and unrealistic as to prevent serious consideration of how the markets for each actually behave. An Austrian macroeconomics is one in which time and money, and the institutions that surround them, are taken seriously. For money, that means recognizing its role as a med ...
Money and Macroeconomic Dynamics
... the current fragmented higher education. In this sense, it seems to be a right choice to introduce the visions and methods of system dynamics to the K12 education where academic fragmentation does not yet break down into the learning process. The reader may visit a creative learning Web site for its ...
... the current fragmented higher education. In this sense, it seems to be a right choice to introduce the visions and methods of system dynamics to the K12 education where academic fragmentation does not yet break down into the learning process. The reader may visit a creative learning Web site for its ...
Monetary Analysis: Tools and Applications
... followed with particular attention. This broader analysis is necessary to put developments into perspective, to obtain a better understanding of M3 developments and, more generally, to develop a broader insight into monetary conditions and their implications for monetary policy decisions aimed at ma ...
... followed with particular attention. This broader analysis is necessary to put developments into perspective, to obtain a better understanding of M3 developments and, more generally, to develop a broader insight into monetary conditions and their implications for monetary policy decisions aimed at ma ...
Long-Run and Short-Run Effects of Money Injections
... their full endowment of labor until they reach their targeted real balances. Moreover, it allows us to have the LRW model with a degenerate distribution and linear value function as a particular case. Zhu (2008) constructs a model with alternating market structures and general preferences and achie ...
... their full endowment of labor until they reach their targeted real balances. Moreover, it allows us to have the LRW model with a degenerate distribution and linear value function as a particular case. Zhu (2008) constructs a model with alternating market structures and general preferences and achie ...
Impact of Monetary Policy on Indian Economy in the Post
... and there is greater freedom in the use of instruments. Greater transparency in the setting of objectives of monetary policy and instrument freedom are expected to bring about greater rigor in the formulation of strategies and the choice of instruments. In India, Money supply has been regarded as an ...
... and there is greater freedom in the use of instruments. Greater transparency in the setting of objectives of monetary policy and instrument freedom are expected to bring about greater rigor in the formulation of strategies and the choice of instruments. In India, Money supply has been regarded as an ...
Understanding the Greenspan Standard
... Nor, in our judgment, have the facts been kind to the critics’ argument. For example, the Fed brought inflation down dramatically under Paul Volcker and has controlled both inflation and real fluctuations well under Greenspan. In the process, it has built up an enormous reservoir of trust and credib ...
... Nor, in our judgment, have the facts been kind to the critics’ argument. For example, the Fed brought inflation down dramatically under Paul Volcker and has controlled both inflation and real fluctuations well under Greenspan. In the process, it has built up an enormous reservoir of trust and credib ...
Regime Switches, Agents`Beliefs, and Post
... The importance of agents’ expectations in determining equilibrium outcomes became apparent to macroeconomists following the rational expectations hypothesis revolution that occurred in the ’70s. Practitioners learned that empirical work revolving around policy changes cannot abstract from modeling a ...
... The importance of agents’ expectations in determining equilibrium outcomes became apparent to macroeconomists following the rational expectations hypothesis revolution that occurred in the ’70s. Practitioners learned that empirical work revolving around policy changes cannot abstract from modeling a ...
... The previous intuition also shows why a large value of ¯ can actually increase the likelihood that in°ation expectations are self-ful¯lling in our model. That is because the rise in the interest rate that occurs with a rise in in°ation under the Fed's policy rule also produces a reduction in output. ...
The Future of Money
... cash (particularly the “unbanked” without other options) and those who pay with credit cards. Similarly, many clearing and settlement systems give rise to expensive service charges and lucrative floats that have serious social consequences in areas such as remittances by foreign workers, providing f ...
... cash (particularly the “unbanked” without other options) and those who pay with credit cards. Similarly, many clearing and settlement systems give rise to expensive service charges and lucrative floats that have serious social consequences in areas such as remittances by foreign workers, providing f ...
1 Principles of Macroeconomics, 9e
... B) larger than the government spending multiplier that would result if planned investment were independent of the interest rate. C) the same as the government spending multiplier that would result if planned investment were independent of the interest rate. D) smaller than the government spending mu ...
... B) larger than the government spending multiplier that would result if planned investment were independent of the interest rate. C) the same as the government spending multiplier that would result if planned investment were independent of the interest rate. D) smaller than the government spending mu ...
The Relationship Between the Federal Funds Rate and the Fed`s
... Specifically, Cook and Hahn (1989a, p. 343) note that “the standard interpretation by market participants of movements in Treasury bill rate on days of changes in the funds rate target is that the movements are due to changes in expectations of the funds rate over the life of the bill. This interpre ...
... Specifically, Cook and Hahn (1989a, p. 343) note that “the standard interpretation by market participants of movements in Treasury bill rate on days of changes in the funds rate target is that the movements are due to changes in expectations of the funds rate over the life of the bill. This interpre ...
Chapter 4 Involuntary Excess Liquidity and the Effectiveness of
... suggesting that it is solely used for prudential purposes. After an initial period of signi…cant volatility at the beginning of the sample period in‡ation has remained fairly low and stable since the mid 1990s. This is an indication of the success of the Central Bank’s strategy of containing in‡atio ...
... suggesting that it is solely used for prudential purposes. After an initial period of signi…cant volatility at the beginning of the sample period in‡ation has remained fairly low and stable since the mid 1990s. This is an indication of the success of the Central Bank’s strategy of containing in‡atio ...
Inflation and the making of macroeconomic policy in Australia, 1945
... It is necessary to begin rather abstractly with definitions, to be as clear as possible. I use the term ‘social structure’ in a broad sense to mean any enduring social phenomenon not reducible to individual action. It therefore includes such diverse things as central banks, the science of biology, t ...
... It is necessary to begin rather abstractly with definitions, to be as clear as possible. I use the term ‘social structure’ in a broad sense to mean any enduring social phenomenon not reducible to individual action. It therefore includes such diverse things as central banks, the science of biology, t ...
Understanding the Greenspan Standard
... Alan Greenspan was sworn in as Chairman of the Board of Governors of the Federal Reserve System almost exactly 18 years ago. At the time, the Reagan administration was being rocked by the Iran-contra scandal. The Berlin Wall was standing tall while, in the Soviet Union, Mikhail Gorbachev had just pr ...
... Alan Greenspan was sworn in as Chairman of the Board of Governors of the Federal Reserve System almost exactly 18 years ago. At the time, the Reagan administration was being rocked by the Iran-contra scandal. The Berlin Wall was standing tall while, in the Soviet Union, Mikhail Gorbachev had just pr ...
With it*s main objective to maintain price stability for the medium to
... indicator variables might even be further amplified in the future as data about monetary aggregates will become available sooner and will be less subject to data revisions. Second, money demand functions are able to distinguish developments within monetary aggregates according to whether they have a ...
... indicator variables might even be further amplified in the future as data about monetary aggregates will become available sooner and will be less subject to data revisions. Second, money demand functions are able to distinguish developments within monetary aggregates according to whether they have a ...
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... in‡ation and revolutions in recent world history. Using data from 54 developing countries, Cartwright, Delorme, and Wood (1985) …nd that in‡ation is the most signi…cant economic variable to explain the probability and duration of social unrest and revolution, and is far more important than other eco ...
... in‡ation and revolutions in recent world history. Using data from 54 developing countries, Cartwright, Delorme, and Wood (1985) …nd that in‡ation is the most signi…cant economic variable to explain the probability and duration of social unrest and revolution, and is far more important than other eco ...
NBER WORKING PAPER SERIES MONETARY POLICY AND SECTORAL SHOCKS:
... The long boom experienced by the U.S. during the 90’s came to an end in 2001 with a large decline in information technology (IT) investment. After growing at 16% during 2000, IT spending fell by 6% in 2001, while the NASDAQ lost half its value between September 2000 and March 2001. The Federal Reser ...
... The long boom experienced by the U.S. during the 90’s came to an end in 2001 with a large decline in information technology (IT) investment. After growing at 16% during 2000, IT spending fell by 6% in 2001, while the NASDAQ lost half its value between September 2000 and March 2001. The Federal Reser ...
The Monetarist-Keynesian Debate and the Phillips Curve
... reduction in unemployment to its full employment level with little increase in in‡ation. In the aftermath, in the advanced stages of economic recovery when a reduction in unemployment and an increase in in‡ation turned in‡ation into the main concern, policymakers assumed that monetary policy could b ...
... reduction in unemployment to its full employment level with little increase in in‡ation. In the aftermath, in the advanced stages of economic recovery when a reduction in unemployment and an increase in in‡ation turned in‡ation into the main concern, policymakers assumed that monetary policy could b ...
3 National Income: Where It Comes
... monetary policy are made by the Federal Open Market Committee.This committee is made up of members of the Federal Reserve Board, who are appointed by the president and confirmed by Congress, together with the presidents of the regional Federal Reserve Banks. The Federal Open Market Committee meets a ...
... monetary policy are made by the Federal Open Market Committee.This committee is made up of members of the Federal Reserve Board, who are appointed by the president and confirmed by Congress, together with the presidents of the regional Federal Reserve Banks. The Federal Open Market Committee meets a ...
The Case for a Financial Approach to Money Demand
... In this paper, I show that a realistic joint distribution of consumption, money and …nancial assets can be reproduced when a friction on …nancial markets is introduced in addition to a transaction friction on goods markets. The friction in the goods market considered here is a standard cash-inadvan ...
... In this paper, I show that a realistic joint distribution of consumption, money and …nancial assets can be reproduced when a friction on …nancial markets is introduced in addition to a transaction friction on goods markets. The friction in the goods market considered here is a standard cash-inadvan ...