A means of exchange and preservation of value is likely as old as our species. Global economic trade is often argued to be as old as trade. The question of the nature of the exchange, of who creates the value and how it is regulated is the issue. While tin from England may have reached Sumeria...

Following the emergence of the global pandemic caused by COVID-19, governments have begun the process of stabilizing the shocks caused by the pandemic through macroeconomic policy id Est through fiscal policy and monetary policy. That is why it is a modern, new, and relevant topic for study....

Does it matter what the central bank had said during a monetary policy announcement? The paper proposes a new approach to identifying the effects of forward guidance taking into account what the central bank had said and how financial markets perceived it. I use computational linguistic methods...

The foreign exchange market seeks to use a market-based mechanism to discover a price for a currency. But, this price discovery mechanism is hampered by a variety of externalities, chief of which is the different intermediaries involved in the trading and clearing of a currency. Such...

The Federal Reserve has become a Supra-National Central Bank with Monetary Policy Effects on foreign equity markets that exceed the host country’s domestic central bank policy. In this paper we utilize macroeconomic data to demonstrate an outsized effect on domestic equity markets by Federal...

Research background: The core of coordinating a monetary and fiscal policy (policy mix) is based on combining both policies to achieve goals related to price stability, as well as economic growth and employment. In turn, the decisions of economic authorities in the monetary-fiscal game have a...

There is, in informal discussions and even in some academic writings, a tendency to treat U.S. monetary history as divided between a gold standard past and a fiat dollar present. In truth, the legal meaning of a "standard" U.S. dollar has been contested, often hotly, throughout U.S. history, and...

This paper analyzes the evolution of Keynesianism making use of concepts offered by Imre Lakatos. The Keynesian “hard core” lies in its views regarding the instability of the market economy, its “protective belt” in the policy strategy for macroeconomic stabilization using fiscal policy...

Positive research into Taylor rules indicates that in the recent past the central bank in the United States may have informally behaved in accordance with variants of Taylor's original rule. We note, however, that efforts to empirically fit these variants to past policy must account for a...

The macroeconomic forecast prepared by the Ministry of Economy of the Republic of Azerbaijan emphasized the main priorities for the budget policy for the upcoming five years. The forecast was prepared following the order "Azerbaijan 2030: National Priorities for Socio-Economic Development" and...