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Money as an indicator variable for monetary policy when money demand is forward looking

Kajanoja, Lauri - EconWPA - 2004

This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty. We … state of the economy. Money reveals some of the private sector’s information to the policymaker, especially if there is a … forward looking element in money demand. We show that observing money can considerably reduce the loss that is due to …

Persistent link: https://www.econbiz.de/10005126466

The Philippine Central Bank's Monetary Policy Reaction Function from 1992 to 2003

Salas, John Michael Ian S. - EconWPA - 2004

addition, currency stability and expansionary money supply (M1) growth are other concerns of the BSP, though significantly so …

Persistent link: https://www.econbiz.de/10005561255

Leitlinien für ein dauerhaftes Wachstum in der EU? Konzept und Wirkung der Grundzüge der Wirtschaftspolitik

Hein, Eckhard; Niechoj, Torsten - EconWPA - 2005

The Broad Economic Policy Guidelines contain the answers of the European Com-mission and the EU-governments to the growth and employment problems in the EU. These guidelines have been the EU-economic policy concept for ten years now, but this concept has not been able to generate sustained...

Persistent link: https://www.econbiz.de/10005561155

Macroeconomic co-ordination as an economic policy concept - opportunities and obstacles in the EMU

Hein, Eckhard; Truger, Achim - EconWPA - 2004

This paper traces the euro zone’s inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a ‘new monetarist’ approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and...

Persistent link: https://www.econbiz.de/10005126124

Guidelines for sustained growth in the EU? The concept and consequences of the Broad Economic Policy Guidelines

Hein, Eckhard; Niechoj, Torsten - EconWPA - 2005

The Broad Economic Policy Guidelines contain the answers of the European Commission and the governments of the EU-member countries to the European growth and employment problems. These guidelines have been the major EU-economic policy concept for around ten years now. They can be seen as a...

Persistent link: https://www.econbiz.de/10005126214

INFORMEDNESS OF ECONOMIC AGENTS AND THE QUANTITY THEORY OF MONEY

Salvary, Stanley C. W. - EconWPA - 2005

Historically, informedness of economic agents via price stability has been a rationale for the money supply rule … derived from the Quantity Theory of Money. The monetarists maintain that changes in the price level are attributable to the … level of the money supply; hence, a money supply rule is adopted as the means to curb inflation. Given the adopted monetary …

Persistent link: https://www.econbiz.de/10005126357

Macroeconomic co-ordination as an economic policy concept – opportunities and obstacles in the EMU

Hein, Eckhard; Truger, Achim - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005412745

Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges

Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003

Macroeconomic Policies of the Economic and Monetary Union: Theoretical Underpinnings and Challenges Philip Arestis and Malcolm Sawyer, The Levy Economics Institute and Leeds University Abstract This paper presents two issues: first, an effort to decipher the type of economic analysis and...

Persistent link: https://www.econbiz.de/10005076715

Monetary Policy Strategies of the European Central Bank and the Federal Reserve Bank of the U.S.

Wray, L. Randall; Sardoni, C. - EconWPA - 2005

the U.S. and Euroland in recent years. Not surprisingly, both central banks share the same conviction that money is …

Persistent link: https://www.econbiz.de/10005076846

Reflections on the Current Fashion For Central Bank Independence

Bibow, Jörg - EconWPA - 2001

This paper challenges the time-inconsistency case for central bank independence. It argues that the time-inconsistency literature not only seriously confuses the substance of the rules versus discretion debate, but also posits an implausible view of monetary policy. Most worrisome, the...

Persistent link: https://www.econbiz.de/10005561151