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Wicksell, secular stagnation and the negative natural rate of interest
Boianovsky, Mauro - 2016
Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and beginning of the 20th centuries, has played an important role in modern monetary macroeconomics, especially after the development of inflation targeting policy in the 1990s. More...
Persistent link: https://www.econbiz.de/10011613807
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Comparative Views on L. Walras and A. Cournot on The Regulation of Paper Money: Rules VS. Discretion at The End of The XIXth Century.
Alvarez, Andrés - UN - RCE - CID - 2010
This paper presents Léon Walras and Augustin Cournot views on monetary regulation. Important differences can be found in their views about the convenience of the issuing of paper money and fiat money in general. Whereas Walras is against bank notes, even if coming from a central bank, Cournot...
Persistent link: https://www.econbiz.de/10008522039
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Wicksell, Secular Stagnation and the Negative Natural Rate of Interest
Boianovsky, Mauro - 2017
Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and beginning of the 20th centuries, has played an important role in modern monetary macroeconomics, especially after the development of inflation targeting policy in the 1990s. More...
Persistent link: https://www.econbiz.de/10012968402
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Fred Manville Taylor and the Origins of the Term "Say's Law"
Numa, Guy; Béraud, Alain - 2021
The term “Say’s Law” was introduced in the twentieth century by an American economist, Fred Manville Taylor. To this date, no research has thoroughly investigated how the term came to be and what it really meant in Taylor’s writings. This paper aims to examine how Taylor defined and used...
Persistent link: https://www.econbiz.de/10013235166
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Wicksell, secular stagnation and the negative natural rate of interest
Boianovsky, Mauro - 2016 - Third draft (October 2016)
Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and beginning of the 20th centuries, has played an important role in modern monetary macroeconomics, especially after the development of inflation targeting policy in the 1990s. More...
Persistent link: https://www.econbiz.de/10011609479
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How to Compute Equilibrium Prices in 1891
Brainard, William C.; Scarf, Herbert E. - Cowles Foundation for Research in Economics, Yale University - 2000
Irving Fisher's Ph.D. thesis, submitted to Yale University in 1891, contains a fully articulated general equilibrium …, Fisher presents a remarkable hydraulic apparatus for calculating equilibrium prices and the resulting distribution of society …'s endowments among the agents in the economy. In this paper we provide an analytical description of Fisher's apparatus, and report …
Persistent link: https://www.econbiz.de/10005087363
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Excess money growth and inflation dynamics
Roffia, Barbara; Zaghini, Andrea - Banca d'Italia - 2008
The paper analyzes the short-run impact of periods of strong monetary growth on inflation dynamics for 15 industrialized economies. We find that when robust money growth is accompanied by large increases in stock and house prices and loose credit conditions, the probability of recording an...
Persistent link: https://www.econbiz.de/10005770764
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Excess Money Growth and Inflation Dynamics
Zaghini, Andrea - 2008
The paper analyzes the short-run impact of periods of strong monetary growth on inflation dynamics for 15 industrialized economies. We find that when robust money growth is accompanied by large increases in stock and house prices and loose credit conditions, the probability of recording an...
Persistent link: https://www.econbiz.de/10012725075
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Decentralizing Money : Bitcoin Prices and Blockchain Security
Pagnotta, Emiliano - 2020
We address the determination of bitcoin prices and decentralized security. Users forecast the transactional and resale value of holdings, pricing the risk of malicious systemic attacks. Miners contribute resources to protect against attackers, competing for block rewards. Bitcoin's design leads...
Persistent link: https://www.econbiz.de/10012851154
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Money Growth and Inflation : International Historical Evidence on High Inflation Episodes for Developed Countries
Gallegati, Marco - 2019
How long is the long run in the relationship between money growth and inflation? How important are high inflation episodes for the unit slope finding in the quantity theory of money? To answer these questions we study the relationship between excess money growth and inflation over time and...
Persistent link: https://www.econbiz.de/10012895133