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objectives in the implementation of monetary policy (concerning inflation and unemployment) is the interest rate. Furthermore …. As inflation, unemployment and interest rates are determinants of the level of poverty, the central bank's behaviour is …
Persistent link: https://www.econbiz.de/10010752015
Most central banks are required to or choose to stabilize a price index, largely by manipulating short term interest …
Persistent link: https://www.econbiz.de/10010752522
between the federal government budget deficitand the ex ante real long term interest rate. The system includes personal … federal income tax rates, the M2 money supply, the unemployment rate, an ex ante realshort term interest rate and net … international capital inflows. To clarify thedeficit/interest rate relationship, the budget deficit is measured by the …
Persistent link: https://www.econbiz.de/10010752528
A simple model of the interaction between central bank liquidity management and the inter-bank overnight rate is suggested, which allows analysing the publication offorecasts of liquidity factors by the European Central Bank adopted in June 2000. The paper argues that the main practical...
Persistent link: https://www.econbiz.de/10010752538
I met Franco Modigliani in 1948. We had common interests in three fields of economic theory--Keynes and unemployment, the relations between monetary and real phenomena and market forms and price formation. We had in common also the love for empirical verification and, on another plane, civil...
Persistent link: https://www.econbiz.de/10010752549
A new consensus in the theory of monetary policy has been reached pointing to the pivotal role of interest rates that …
Persistent link: https://www.econbiz.de/10010753920
find that short-term interest rate shocks have a significant impact on real activity, but hardly on prices. M3 shows a …
Persistent link: https://www.econbiz.de/10010754200