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The repeal of the glass-steagall act and the Federal Reserve's extraordinary intervention during the global financial crisis

Nersisyan, Yeva - 2015

to commercial banks. During the crisis, however, the Federal Reserve created a number of facilities to support brokers … banks to nonbank financial institutions. In a specialized financial system, which the GSA had helped create, the use of the … lender-of-last-resort safety net could be more comfortably limited to commercial banks. However, the elimination of GSA …

Persistent link: https://www.econbiz.de/10010467778

Bank leverage ratios and financial stability : a micro- and macroprudential perspective

Avgouleas, Emilios - 2015

Bank leverage ratios have made an impressive and largely unopposed return; they are mostly used alongside risk-weighted capital requirements. The reasons for this return are manifold, and they are not limited to the fact that bank equity levels in the wake of the global financial crisis (GFC)...

Persistent link: https://www.econbiz.de/10011389182

A post Keynesian perspective on the rise of Central Bank independence : a dubious success story in monetary economics

Bibow, Jörg - 2010

’s own contributions on the issue of CBI are found worth revisiting. -- Central Banks ; Central Bank Independence …

Persistent link: https://www.econbiz.de/10008664014

Financial markets

Bibow, Jörg - 2011

This paper provides a brief exposition of financial markets in Post Keynesian economics. Inspired by John Maynard Keynes's path-breaking insights into the role of liquidity and finance in "monetary production economies" Post Keynesian economics offers a refreshing alternative to mainstream...

Persistent link: https://www.econbiz.de/10008906538

Keynes after 75 years : rethinking money as a public monopoly

Wray, L. Randall - 2011

In this paper I first provide an overview of alternative approaches to money, contrasting the orthodox approach, in which money is neutral, at least in the long run; and the Marx-Veblen-Keynes approach, or the monetary theory of production. I then focus in more detail on two main categories: the...

Persistent link: https://www.econbiz.de/10008906545

Money in finance

Wray, L. Randall - 2011

financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The …

Persistent link: https://www.econbiz.de/10008906555

A meme for money

Wray, L. Randall - 2012

This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives.That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually...

Persistent link: https://www.econbiz.de/10009665525

Economic policy in India : for economic stimulus, or for austerity and volatility?

Sen, Sunanda; DasGupta, Zico - 2014

The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...

Persistent link: https://www.econbiz.de/10010385761

From the state theory of money to modern money theory : an alternative to economic orthodoxy

Wray, L. Randall - 2014

This paper explores the intellectual history of the state, or chartalist, approach to money, from the early developers (Georg Friedrich Knapp and A. Mitchell Innes) through Joseph Schumpeter, John Maynard Keynes, and Abba Lerner, and on to modern exponents Hyman Minsky, Charles Goodhart, and...

Persistent link: https://www.econbiz.de/10010252186

Japan's liquidity trap

Akram, Tanweer - 2016

Japan has experienced stagnation, deflation, and low interest rates for decades. It is caught in a liquidity trap. This paper examines Japan’s liquidity trap in light of the structure and performance of the country’s economy since the onset of stagnation. It also analyzes the country’s...

Persistent link: https://www.econbiz.de/10011453035

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