Showing 1 - 10 of 104
Keynes (1936) said that shortage of money caused by hoarding or failure to invest led to unemployment, but Lucas (1972) said that money does not affect unemployment. The tables have now turned. Gani (2003) produced a model of indirect trade in which money is necessary as a means of payment....
Persistent link: https://www.econbiz.de/10005561133
determines voting in the Senate, with the main dimension driven by economic interest, not ideology. Although two dimensions are … reported evidence, and a growing consensus in the congressional studies literature, this finding is attributed to interest …
Persistent link: https://www.econbiz.de/10005408037
and when necessary to redefine, the “conventional” key concepts such as labor, capital, interest, rent, and accordingly …
Persistent link: https://www.econbiz.de/10005119387
credit in a growing economy. Third, the rate of interest in Marx’s economics is conceived of as a monetary category … interest. From this it follows, that any “real theory” of crisis and stagnation, as the falling rate of profit theory of crisis …
Persistent link: https://www.econbiz.de/10005076655
rising interest rates, brought about by contractionary monetary policy, compromised the balance sheets of firms that had … financed long-term positions in illiquid assets with short-term borrowing. As interest rates rose, the debt service costs of a … effects of interest rate policy on the economy, answering the first question. A model based on Minsky's theory confirms the …
Persistent link: https://www.econbiz.de/10005561076
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
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
This paper articulates three insights regarding asset prices and monetary policy: (1) Asset price appreciation due to monetary expansion, despite its “paper” wealth nature, tends to make current consumers as a whole wealthier; (2) the wealth effect of monetary policy (on consumption) is...
Persistent link: https://www.econbiz.de/10005561161
Morocco and Tunisia have started to open their markets to international trade and capital flows in order to bolster investment and growth. These liberalization programs require important adjustments in their economic policies, in particular their exchange rate regimes and monetary policies. This...
Persistent link: https://www.econbiz.de/10005561228
This paper is on monetary policy transmission. First, it asks the question whether industries are affected differently by monetary policy shocks. Here both output and price effects are compared. Second, some industry characteristics are explored which may help to understand the existence of...
Persistent link: https://www.econbiz.de/10005561233