This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...

This 2013 Article IV Consultation highlights that in 2012, Thailand’s economy rebounded strongly from the devastating floods, with real GDP growing by 6.5 percent. Private consumption rose 6.7 percent, reflecting pent-up demand and government measures, including the rice pledging scheme,...

The demand for money plays a major role in macroeconomic analysis, especially in selecting appropriate policy. This brings in the demand for money function which expresses a mathematical relationship between the quantity of money demanded and its various determinants; interest rate, income,...

Out of the two types of monetary policy interventions – along with passive ones – active interventions are bettter used in order to increase the performances of a real economy. This was the main field of focus for the swedish economist Knut Wicksell. The aim of this paper is to present a...

Out of all the ideas and assumptions regarding the money and monetary theory, the classical liberalism was the first major paradigm that contributed to the development of the quantity theory of money. This paper aims to express the first steps made by the Classical School economists in...