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Monetarism and its Application in the Australian Economy
Downs, Linwood C. - 1983
Monetarism is a macroeconomic theory predicated on the belief that a capitalist economy is inherently stable. Therefore … monitered and controlled. The above paragraph is a rough definition of Monetarism. This paper attempts to answer two questions … as concerns Monetarism. First of all is Monetarism a valid economic theory? In other words how well does Monetarist …
Persistent link: https://www.econbiz.de/10009474977
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Money in Spain : new historical statistics (1830-1998)
Martín Aceña, Pablo - 2018
Incluye anexos estadísticos ; El propósito de este Documento de Trabajo es presentar una reconstrucción de los principales agregados monetarios para el período comprendido entre 1830, cuando se pusieron en circulación los primeros billetes bancarios modernos, y 1998, el año anterior a la...
Persistent link: https://www.econbiz.de/10012530601
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ECB - Working paper series
European Central Bank
The ECB Working Paper Series seeks to disseminate economic research on issues that are relevant to the various tasks and functions of the ECB. The Series invites submissions of research work by ECB staff and visitors. Papers by researchers not affiliated with the ECB may also be considered for...
Persistent link: https://www.econbiz.de/10009635880
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Can the Policy Trilemma Be Exposited in the Mundell-Fleming Framework?
Boyer, Russell S. - 2006
There is a general recognition that there are deficiencies in the Mundell-Fleming model. Nonetheless, Rose [2000] has stated that Mundell was the first to exposit the Policy Trilemma, which identifies an intrinsic incompatibility among: high capital mobility, fixed exchange rates, and monetary...
Persistent link: https://www.econbiz.de/10009440668
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Reconsideration of the P-Bar Model of Gradual Price Adjustment
McCallum, Bennett T. - 2008
This paper compares the P-bar model of price adjustment with the currently dominant Calvo specification. Theoretically, the P-bar model is more attractive as it depends on adjustment costs for physical quantities rather than nominal prices, while incorporating a one-period information lag....
Persistent link: https://www.econbiz.de/10009441077
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Is Inflation Targeting the Best Policy Choice for Emerging Economies? A Survey of Emerging Market Experiences and Lessons for Pakistan
Khalid, Ahmed M. - 2006
In the aftermath of a major financial crisis in the 1990s, price stability has become an important argument of the future monetary policy stance in many emerging economies. As such, emerging economies in Asia and Latin America have switched to inflation targeting as their monetary policy. This...
Persistent link: https://www.econbiz.de/10009441615
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The Mystique of Central Bank Speak
Geraats, Petra M - 2005
Despite the recent trend towards greater transparency of monetary policy, in many respects central bankers still prefer to speak with mystique. This paper shows that the resulting perception of ambiguity could be desirable. Under the plausible assumption that there is imperfect common knowledge...
Persistent link: https://www.econbiz.de/10009442001
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Inflation Targeting, Committee Decision Making and Uncertainty: The case of the Bank of England’s MPC
Bhattacharjee, Arnab; Holly, Sean - 2005
Transparency and openness of the monetary policymaking process at the Bank of England has provided very detailed information on both the decisions of individual members of the Monetary Policy Committee and the information on which they are based. We consider this decision making process in the...
Persistent link: https://www.econbiz.de/10009442006
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RACIONAMENTO DE CRÉDITO NO BRASIL: EVIDÊNCIAS EMPÍRICAS PARA O SETOR EMPRESARIAL NO PERÍODO 2000 - 2005
Andrade, Wanderley Lopes De Jr.; Amin, Mario Miguel - 2008
Uma avaliação empírica da existência de racionamento de crédito, segundo Stiglitz e Weiss (1981), requer o estudo do impacto da política monetária sobre o mercado de crédito, em especial sobre a taxa de juros dos empréstimos. Desta forma, o objetivo deste artigo é analisar as...
Persistent link: https://www.econbiz.de/10009446743
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Optimal Central Bank Conservatism and Monopoly Trade Unions
Berger, Helge; Hefeker, Carsten; Schoeb, Ronnie - 2000
The “conservative central banker” has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...
Persistent link: https://www.econbiz.de/10009447268