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Journal of the Staple Inn Actuarial Society, 1953
The proper functioning of a present-day economic system is dependent upon money and prices. This is particularly the case when a large part of the economy is based on private enterprise.For many years economic text-books have stated the three functions of money to be (1) a means of payment, (2) a store of value and (3) a unit of account.
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The proper functioning of a present-day economic system is dependent upon money and prices. This is particularly the case when a large part of the economy is based on private enterprise.For many years economic text-books have stated the three functions of money to be (1) a means of payment, (2) a store of value and (3) a unit of account.
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The Monetary Policy Model [PDF]
Business Economics, 2006 Most monetary economists today conduct their analysis within some version of a rational expectations model. A well-defined equilibrium in such a model requires that the private sector understand policy goals and the policymakers' model of the economy.
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Monetary Policy Surprises and Monetary Policy Uncertainty
FEDS Notes, 2018In this note we find that after a given monetary policy surprise, primary dealers--key intermediaries in interest rate markets--tend to adjust their positions in the U.S. Treasury market and their exposures to interest rates more when the prevailing level of policy uncertainty is low than when it is high.
Michiel De Pooter +3 more
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The Scandinavian Journal of Economics, 2001 AbstractWhat is the optimal institutional structure for a federal central bank? The framework developed in this paper is used to analyze under what conditions an individual region will prefer a monetary union to be organized according to regional or common influences and how a combination of both can be rationalized.
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Monetary policy rules and U.S. monetary policy
Journal of Post Keynesian Economics, 2008An inflation-augmented Atesoglu monetary policy rule is introduced. The Atesoglu rule is based on an estimate of the neutral rate of interest of Keynes. Actual Fed monetary policy and policy implied by Atesoglu rules are compared. During the 1994:2-2006:4 period, monetary policy suggested by the inflation-augmented Atesoglu rule is closer to that ...
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2008
Today monetary policy is the principle way in which governments influence the macroeconomy To implement monetary policy the monetary authority uses its policy instruments (short-term interest rates or the monetary base) to achieve its desired goals of low inflation and real output close to potential.
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Today monetary policy is the principle way in which governments influence the macroeconomy To implement monetary policy the monetary authority uses its policy instruments (short-term interest rates or the monetary base) to achieve its desired goals of low inflation and real output close to potential.
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Overconfidence in Monetary Theory and Monetary Policy
2001In this chapter we argue that when it comes to present-day monetary theory and policy, economists suffer from myopia and are prone to herd behaviour. As a result, too many economists give too much weight to actual economic developments which can have an excessive impact on economic theory and policy.
Brakman, S. +2 more
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U.S. monetary policy and monetary policy and the ESCB [PDF]
, 1998 --
Hetzel, Robert L.
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