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interest is utilized in the NCM model. This suggests that a great deal more research is necessary and very different economic …
Persistent link: https://www.econbiz.de/10010849645
Persistent link: https://www.econbiz.de/10011509012
Two alternative functional forms of the demand for money that focus on how an economy as a whole adjusts its cash balances have been discussed in the literature. One functional form is obtained by regarding the money supply as exogenous and the price level as endogenous and the other by...
Persistent link: https://www.econbiz.de/10005641643
Persistent link: https://www.econbiz.de/10003906054
The current financial crisis has called the role of the monetary policy into question and has also re-opened the … debates about a new regulation and the need of prudential controls of banking activity. This paper argues that the origins of … the current crisis can be found in two interrelated elements that have been operating since the decade of the seventies …
Persistent link: https://www.econbiz.de/10008919621
Recent developments in macroeconomics and macroeconomic policy, what has come to be known as “New Consensus in Macroeconomics”, downgrades the role of fiscal policy and upgrades that of monetary policy. This contribution aims to consider this particular contention by focusing on fiscal...
Persistent link: https://www.econbiz.de/10009141599
spheres and shows how the five papers link together to provide a coherent view of the current economic and financial crisis …
Persistent link: https://www.econbiz.de/10011114191
and more concerned with price stability, less and less attention is paid to money. Indeed, the decline of interest in …
Persistent link: https://www.econbiz.de/10010752482
and more concerned with price stability, less and less attention is paid to money. Indeed, the decline of interest in …
Persistent link: https://www.econbiz.de/10010752526
; the interest rate policy pursued by the central bank should aim for a constant real rate of interest with that interest …
Persistent link: https://www.econbiz.de/10010817058