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The central bank "printing press": boon or bane? : remedies for high unemployment and fears of fiscal crisis

Hannsgen, Greg; Papadimitriou, Dimitri Basil - 2010

In recent years, the US public debt has grown rapidly, with last fiscal year's deficit reaching nearly $1.3 trillion. Meanwhile, many of the euro nations with large amounts of public debt have come close to bankruptcy and loss of capital market access. The same may soon be true of many US states...

Persistent link: https://www.econbiz.de/10008759450

Modern Money Theory and interrelations between the treasury and the central bank : the case of the United States

Tymoigne, Éric - 2014

One of the main contributions of Modern Money Theory (MMT) has been to explain why monetarily sovereign governments have a very flexible policy space that is unconstrained by hard financial limits. Not only can they issue their own currency to pay public debt denominated in their own currency,...

Persistent link: https://www.econbiz.de/10010251586

Macroeconomic effects of a government overdraft on its central bank account

Khemraj, Tarron - 2024

expansion) by focusing on domestic inflation, the foreign exchange (FX) rate, and the quantity of FX traded in the local market …. The empirical results suggest that the inflation rate is largely driven by foreign price and oil shocks. Nevertheless, the … the exchange rate, and slightly increasing the inflation rate. The latter finding has important implications for the …

Persistent link: https://www.econbiz.de/10014531238

Minsky, monetary policy, and mint street : challenges for the art of monetary policymaking in emerging economies

Yanamandra, Srinivas - 2014

This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003-04 to 2013-14). The paper uses Hyman P. Minsky's financial instability hypothesis as...

Persistent link: https://www.econbiz.de/10010436173

Marriner S. Eccles and the 1951 treasury : Federal Reserve Accord ; lessons for central bank independence

Moe, Thorvald - 2013

a more symmetric policy role for central banks, with equal weight on fighting inflation and preventing depressions …

Persistent link: https://www.econbiz.de/10009685722

Unconventional monetary policies and central bank profits : seigniorage as fiscal revenue in the aftermath of the global financial crisis

Bibow, Jörg - 2018

This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage) before and in the aftermath of the global financial crisis of 2008-9, focusing on a select group of central banks - namely the Bank of England, the United States Federal Reserve System, the Bank of...

Persistent link: https://www.econbiz.de/10011910944

The "new consensus" view of monetary policy : a new Wicksellian connection?

Fontana, Giuseppe (contributor) - 2006

of money, and defended a return to the old Wicksellian idea of eliminating high levels of inflation by adjusting nominal …

Persistent link: https://www.econbiz.de/10003720850

The European Central Bank and why things are the way they are : a historic monetary policy pivot point and moment of (relative) clarity

Dubois, Robert - 2012

Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...

Persistent link: https://www.econbiz.de/10009503821

The Euro's savior? : assessing the ECB's crisis management performance and potential for crisis resolution

Bibow, Jörg - 2015

This study assesses the European Central Bank’s (ECB) crisis management performance and potential for crisis resolution. The study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under crisis conditions, and how the bank has actually...

Persistent link: https://www.econbiz.de/10011349470

The impact of financial reform on federal reserve autonomy

Shull, Bernard - 2012

The Federal Reserve has been criticized for not preventing the risky behavior of large financial companies prior to the financial crisis of 2008-09, for approving mergers that aggravated the "too big to fail" problem, and for its substantial contribution to bailouts when their risk management...

Persistent link: https://www.econbiz.de/10009664269