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Currently, many monetary and fiscal policy measures are aimed at preventing the financial market meltdown that started in the US subprime sector and has spread worldwide as a great recession. Although some slow recovery appears to be on the horizon, it is worthwhile exploring the fragility and...
Persistent link: https://www.econbiz.de/10010299486
Theoretical and empirical studies of different sciences suggest that an optimal committee consists of roughly 5-9 members, although it can swell mildly under specific circumstances. This paper develops a conceptual model in order to analyze the issue in case of monetary policy formulation. The...
Persistent link: https://www.econbiz.de/10010322451
International financial linkages, particularly through global bank flows, generate important questions about the consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I address the monetary autonomy issue in the context of...
Persistent link: https://www.econbiz.de/10010333575
Even though the sector of Non-bank financial intermediaries (NBFI) or shadow banks represent a large part of the contemporary financial system, these institutions received almost no attention in macroeconomic studies so far. Their presence has significant influence on the conduct of monetary...
Persistent link: https://www.econbiz.de/10010334475
Theoretical and empirical studies of different sciences suggest that an optimal committee consists of roughly 5-9 members, although it can swell mildly under specific circumstances. This paper develops a conceptual model in order to analyze the issue in case of monetary policy formulation. The...
Persistent link: https://www.econbiz.de/10010264892
Die Autoren der Beiträge des Bandes befassen sich mit dem Transmissionsmechanismus in der Geldpolitik. Im Zentrum steht somit die Frage, wie sich geldpolitische Maßnahmen der Notenbanken auf gesamtwirtschaftliche Größen übertragen. -- G. Winckler und S. Kaufmann untersuchen in ihrem Beitrag...
Persistent link: https://www.econbiz.de/10014492661
reform program is rooted in a rethink of macroeconomic theory compelled by the crisis. There are some overlaps between the … similarity of form is mistaken for similarity of substance.The insider program makes no changes to macroeconomic theory and is … sins of omission. The outsider program fundamentally challenges existing macroeconomic theory and is also highly critical …
Persistent link: https://www.econbiz.de/10010460508
The policy Trilemma (the ability to accomplish only two out of three policy objectives -financial integration, exchange rate stability and monetary autonomy) continues to be a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced the weighted average of exchange...
Persistent link: https://www.econbiz.de/10010288118