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Is Barter a Hobson Choice? A Theory of Barter and Credit Rationing
Noguera, José de J. - 2009
This paper proposes a theoretical monetary model to inquire as to whether the growth and decline in barter transactions … barter and inflation, and also to the quick decline in barter transactions that followed the 1998 currency crisis …
Persistent link: https://www.econbiz.de/10014201522
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Is Barter a Hobson's Choice? A Theory of Barter and Credit Rationing
Noguera, José de J. - 2005
This paper proposes a theoretical monetary model to inquire as to whether the growth and decline in barter transactions … barter and inflation, and also to the quick decline in barter transactions that followed the 1998 currency crisis …
Persistent link: https://www.econbiz.de/10014061377
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2020 US neutral rate assessment
Bootsma, James; Carter, Thomas J.; Chen, Xin Scott; … - 2020
This paper presents Bank of Canada staff's current assessment of the US neutral rate, along with a newly developed set of models on which that assessment is based. The overall assessment is that the US neutral rate currently lies in a range of 1.75 to 2.75 percent. This represents a decline of...
Persistent link: https://www.econbiz.de/10012319158
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The Reincarnation of Barter Trade & Barter Economy
Taskinsoy, John - 2023
deny the existence of barter among the prehistoric people in the new Stone Age (the Neolithic epoch during 9000-6000 BC ….), the 18th-century Scottish philosopher Adam Smith believed that barter existed, but it was “primitive” and the inefficiency … of barter was a precursor to the emergence of money, economy, and economics. Adam Smith was wrong about two things; one …
Persistent link: https://www.econbiz.de/10014344594
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When is quantitative easing effective?
Hoermann, Markus; Schabert, Andreas - 2010 - This version: December 22, 2010
We present a simple macroeconomic model with open market operations that allows examining the effects of quantitative and credit easing. The central bank controls the policy rate, i.e. the price of money in open market operations, as well as the amount and the type of assets that are accepted as...
Persistent link: https://www.econbiz.de/10011382672
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The portfolio theory of inflation and policy (in)effectiveness
Bossone, Biagio - 2019
The analysis of open macroeconomies typically assumes (implicitly or explicitly) that resource allocation decisions are taken by domestic agents. The Portfolio Theory of Inflation (PTI) developed in this study assumes that some critical allocation decisions are taken by global investors and...
Persistent link: https://www.econbiz.de/10012012446
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The portfolio theory of inflation (and policy effectiveness)
Bossone, Biagio - 2019
The Portfolio Theory of Inflation (PIT) proposed in this study investigates the role of global financial markets in determining the effectiveness of macroeconomic policy in open and fully financial integrated economies. The PIT adopts a modified version of the portfolio balance approach to...
Persistent link: https://www.econbiz.de/10011993031
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Consumption velocity in a cash costly-credit model
Scheffel, Eric (contributor) - 2008
In a seminal study Hodrick et al. (1991) evaluate the ability of a simple cash-credit model to produce realistic variability in consumption velocity while at the same time successfully explaining other key statistics. Sufficient variability in the latter is found to be associated with far too...
Persistent link: https://www.econbiz.de/10003799523
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Bringing financial stability into monetary policy
Leeper, Eric M.; Nason, James Michael - 2015
This paper arms central bank policy makers with ways to think about interactions between financial stability and monetary policy. We frame the issue of whether to integrate financial stability into monetary policy operating rules by appealing to the observation that in actual economies financial...
Persistent link: https://www.econbiz.de/10011294262
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Low Real Interest Rates and the Zero Lower Bound
Williamson, Stephen D. - 2019
How do low real interest rates constrain monetary policy? Is the zero lower bound optimal if the real interest rate is sufficiently low? What is the role of forward guidance? A model is constructed that can in- corporate sticky price frictions, collateral constraints, and conventional monetary...
Persistent link: https://www.econbiz.de/10014352391