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Keynes' s theories of money and banking in the Treatise and The General Theory
Smithin, John N. - In: Review of Keynesian economics 1 (2013) 2, pp. 242-256
Persistent link: https://www.econbiz.de/10009765711
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A note concerning government bond yields
Akram, Tanweer - 2020
This paper relates Keynes's discussions of money, the state theory of money, financial markets, investors' expectations … empirical studies not only vindicate the Keynesian perspective but also have relevance for macroeconomic theory and policy. …
Persistent link: https://www.econbiz.de/10012317613
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Central bank purchases of government bonds
Huber, Samuel; Kim, Jaehong - 2015
We develop a dynamic general equilibrium model to analyze the effects of central bank purchases of government bonds by investigating the following three questions: Under what conditions are these purchases socially desirable, what incentive problems do they mitigate, and how large are these...
Persistent link: https://www.econbiz.de/10011389605
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Central bank purchases of government bonds
Huber, Samuel; Kim, Jaehong - 2015
We develop a microfounded model, where agents have the possibility to trade money for government bonds in an over-the-counter market. It allows us to address important open questions about the effects of central bank purchases of government bonds, these being: under what conditions these...
Persistent link: https://www.econbiz.de/10010518714
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Modern money theory : a primer on macroeconomics for sovereign monetary systems
Wray, L. Randall - 2024 - Revised new edition, edition number 3
1. The Basics of Modern Money Theory -- 2. The Basics of Macroeconomic Accounting -- 3. Spending by Issuer of Domestic … Own Currency -- 6. Tax Policy for Sovereign Nations -- 7. Modern Money Theory and Alternative Exchange Rate Regimes -- 8 … Stability -- 10. Inflation and sovereign currencies -- 11. Conclusions: Modern money theory for sovereign currencies. …
Persistent link: https://www.econbiz.de/10014505159
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Credit traps
Benmelech, Efraim; Bergman, Nittai K. - 2010
"This paper studies the limitations of monetary policy transmission within a credit channel frame- work. We show that, under certain circumstances, the credit channel transmission mechanism fails in that liquidity injections by the central bank into the banking sector are hoarded and not lent...
Persistent link: https://www.econbiz.de/10003990826
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Central Bank balance sheet, liquidity trap, and quantitative easing
Berriel, Tiago C.; Mendes, Arthur - 2015
We show that, when a central bank is not fully financially backed by the treasury and faces a solvency constraint, an increase in the size or a change in the composition of it's balance sheet (quantitative easing) can serve as a commitment device in a liquidity trap scenario. In particular, when...
Persistent link: https://www.econbiz.de/10010517719
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Credit traps
Benmelech, Efraim; Bergman, Nittai K. - In: The American economic review 102 (2012) 6, pp. 3004-3032
Persistent link: https://www.econbiz.de/10009710843
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Debt-deflation versus the liquidity trap : the dilemma of nonconventional monetary policy
Giraud, Gaël; Pottier, Antonin - In: Economic theory : official journal of the Society for … 62 (2016) 1/2, pp. 383-408
Persistent link: https://www.econbiz.de/10011554283
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Long-term interest rates, liquidity preference and the limits of central banking
Seccareccia, Mario; Lavoie, Marc - In: Central banking in the modern world : alternative …, (pp. 164-182). 2004
Persistent link: https://www.econbiz.de/10002516411