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Persistent link: https://www.econbiz.de/10011458189
Thia paper analyzes U.S. monetary-financial policy in the period leading up to the Treasury-Fed Accord. We model policy as an implicit target zone for the price level and an explicit zone for interest rates, and the difficulties on the eve of the Accord as an incipient run on a collapsing...
Persistent link: https://www.econbiz.de/10013211663
Thia paper analyzes U.S. monetary-financial policy in the period leading up to the Treasury-Fed Accord. We model policy as an implicit target zone for the price level and an explicit zone for interest rates, and the difficulties on the eve of the Accord as an incipient run on a collapsing...
Persistent link: https://www.econbiz.de/10012475653
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity....
Persistent link: https://www.econbiz.de/10014482137
Japan's dramatic transformation from economic success to economic stagnation offers important policy lessons to … trends experienced by Japan? This judicious volume investigates in depth the causes of Japan's 'lost decades' versus the real … differences between the Korean and Japanese economies, and examine policy measures taken by Japan during the lost decades. From …
Persistent link: https://www.econbiz.de/10011776263
This paper reconstructs the forgotten history of mutual assistance among Reserve Banks in the early years of the Federal Reserve System. We use data on accommodation operations by the 12 Reserve Banks between 1913 and 1960 which enabled them to mutualise their gold reserves in emergency...
Persistent link: https://www.econbiz.de/10011605731
Persistent link: https://www.econbiz.de/10000693700
, prominent scholars from the United States, Europe, and Japan, distinguish four explanations for this historic shift. These …
Persistent link: https://www.econbiz.de/10003846404
Persistent link: https://www.econbiz.de/10013430065
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