Narrow search
Showing 1 - 10 of 4,306
Cover Image
Monetary Instability, Lack of Integration, and the Curse of a Commodity Money Standard. The German Lands, c.1400–1900 A. D.
Rössner, Philipp Robinson - In: Credit and Capital Markets – Kredit und Kapital 47 (2014) 2, pp. 297-340
Currency debasement, defined as a loss of precious metal content (intrinsic value) of the circulating penny currencies over time, was a common feature in the monetary history of Europe, c. 1400–1900. Over the centuries the loss rate was sustained; between 1400 and 1900 A. D. the (south) German...
Persistent link: https://www.econbiz.de/10014521702
Cover Image
Mutual assistance between Federal Reserve Banks, 1913-1960 as prolegomena to the TARGET2 debate
Eichengreen, Barry; Mehl, Arnaud; Chiţu, Livia; … - 2014
them to mutualise their gold reserves in emergency situations. Gold reserve sharing was especially important in response to … union. But fortunes could change quickly, with emergency recipients of gold turning into providers. Because regional …
Persistent link: https://www.econbiz.de/10011605731
Cover Image
Two crises, two ideas and one question
Laidler, David - 2012
Specific ideas about the Fisher relation between real and nominal interest rates and more general ideas about the nature of the central bank's duty to support the financial system in times of crisis were important to the Monetarist re-assessment of the causes of the Great Depression and what...
Persistent link: https://www.econbiz.de/10010291905
Cover Image
Quantitative easing: A rationale and some evidence from Japan
Wieland, Volker - 2009
. Deflation subsided by 2005. As soon as inflation appeared to stabilize near a rate of zero, the Bank of Japan rapidly reduced …
Persistent link: https://www.econbiz.de/10010303752
Cover Image
Nontraditional Monetary Policy Options : Is Commodity-Based Stabilization Policy Worth Another Look?
Burdekin, Richard C. K. - 2004
The very low interest rates and inflation rates of recent years has generated renewed interest in alternative policies that would not leave central banks trapped by the zero lower bound on nominal interest rates. Amongst this debate, surprisingly little attention has been paid to the possibility...
Persistent link: https://www.econbiz.de/10010271944
Cover Image
Belling the cat: Eli F. Heckscher on the gold standard as a discipline device
Fregert, Klas - 2011
Unlike Knut Wicksell, Eli Heckscher did not believe the time had arrived for "managed money" to replace the gold … standard after World War I. The war had shown that only a gold standard could bind the central bank to a time-consistent policy … with reasonable price stability. Heckscher likened the problem of reinstating the gold standard to "Belling the cat" in …
Persistent link: https://www.econbiz.de/10013208580
Cover Image
Investigating inflation persistence across monetary regimes
Benati, Luca - 2008
United Kingdom and Sweden under the Gold Standard: under stable monetary regimes with clearly defined nominal anchors …
Persistent link: https://www.econbiz.de/10011604897
Cover Image
Was the emergence of the international gold standard expected? Melodramatic evidence from Indian government securities
Flandreau, Marc; Oosterlinck, Kim - 2011
The emergence of the gold standard has for a long time been viewed as inevitable. Fluctuations of the gold … analyze agents' expectations between 1860 and 1890. The intuition is that the spread between gold and silver bonds issued by … requiring a premium to hold silver bonds indicating their belief that gold would eventually become the only metallic standard. …
Persistent link: https://www.econbiz.de/10010316773
Cover Image
Expectations, monetary policy, and labor markets: lessons from the Great Depression
Reicher, Christopher Phillip - 2009
This paper estimates a series of shocks to hit the US economy during the Great Depression, using a New Keynesian model with unemployment and bargaining frictions. Shocks to long-run inflation expectations appear to account for much of the cyclical behavior of employment, while an increase in...
Persistent link: https://www.econbiz.de/10010276373
Cover Image
Essays on empirical macroeconomics
Mehrotra, Aaron - 2006
unaltered by deflation, a further stimulative impact is difficult to implement once the zero bound is hit.This can be due to …
Persistent link: https://www.econbiz.de/10012148898