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Money, capitalist market societies' paramount contract, relies on the belief in its enduring value. However, we still know surprisingly little about the social foundations that sustain that belief. How is our collective trust in the enduring value of money socially built, and what happens if...
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faced throughout the free world …
Persistent link: https://www.econbiz.de/10012859902
Money is a social convention where one party accepts it as payment in the expectation that others will do so too. Over the ages, various forms of private money have come and gone, giving way to central bank money. The reasons for the resilience of central bank money are of particular interest...
Persistent link: https://www.econbiz.de/10012928137
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Theory and evidence suggest that in an environment of well-anchored expectations, temporary news or shocks to economic variables, should not affect agents' expectations of inflation in the long term. Our estimated structural VARs show that both long- and short-term inflation expectations are...
Persistent link: https://www.econbiz.de/10013079863
's introduction of quantitative and qualitative monetary easing, by focusing on changes in traders' confidence and herding behavior …. When participants in bond markets lose confidence in their outlook for future interest rates, their investment decision … factors, such as investors' confidence in the financial environment, the usefulness or value of information available in the …
Persistent link: https://www.econbiz.de/10013055491
Central banks are increasingly reaching out to the general public to motivate and explain their monetary policy actions. One major aim of this outreach is to guide inflation expectations; another is to ensure accountability and create trust. This article surveys a rapidly-growing literature on...
Persistent link: https://www.econbiz.de/10013290328
Central banks are increasingly reaching out to the general public to motivate and explain their monetary policy actions. One major aim of this outreach is to guide inflation expectations; another is to ensure accountability and create trust. This article surveys a rapidly-growing literature on...
Persistent link: https://www.econbiz.de/10014079351
Zur Bekämpfung der Finanzkrise haben Zentralbanken und Regierungen eine Menge Geld in die Wirtschaft gepumpt. Wenn die Geldmenge nicht rechtzeitig reduziert wird, droht eine Infl ation schlimmen Ausmasses. Für die Bürger wäre das eine Katastrophe, denn ihre Vermögen würden vernichtet und...
Persistent link: https://www.econbiz.de/10003926016