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Persistent link: https://www.econbiz.de/10000390533
, machinery and equipment value chain post-apartheid, taking into consideration its links to energy, mining, procurement, and … and development. The main findings showed that structural transformation in the machinery and equipment value chain …
Persistent link: https://www.econbiz.de/10012909224
a holistic theory of production is complemented by conference papers from external leading researchers in the fields of …
Persistent link: https://www.econbiz.de/10014275639
System). In the second part, we present a theory of central bank accountability. Two aspects of accountability are considered … Japan, Bank of England und Federal Reserve System). Im zweiten Teil stellen wir eine Theorie über die Rechenschaftspflicht … Geldpolitik und die Frage, wer die endgültige Verantwortung für die Geldpolitik trägt. Das Papier zeigt auf, dass die …
Persistent link: https://www.econbiz.de/10011418852
There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper provides an overview of the ways in which central banks have been providing more information about their monetary policymaking. Furthermore, it reviews the theoretical literature on...
Persistent link: https://www.econbiz.de/10010237274
The aim of this paper is to review the historical development of monetary policy theory since the 1980s using as focal …
Persistent link: https://www.econbiz.de/10012210748
The monetary standard emerges out of the interaction of monetary policy with the structure of the economy. Characterization of the monetary standard thus requires specification of a model of the economy with a central bank reaction function. Such a specification raises all the fundamental issues...
Persistent link: https://www.econbiz.de/10011474467
In this paper we argue that authorities aid cooperation by means ofdirect coordination or the enforcement of re-commitment devices suchas contract laws.Credible threats of violence allow this role. In alocal interaction model, an authority forms if mutually connected individuals with sufficient...
Persistent link: https://www.econbiz.de/10011302150
Persistent link: https://www.econbiz.de/10011973299
We study how the optimal degree of conservatism relates to decision-making procedures in a Monetary Policy Committee (MPC). In our framework, central bank conservatism is required to attenuate the volatility of monetary decisions generated by the presence of uncertainty about the committee...
Persistent link: https://www.econbiz.de/10010391838