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A mathematical analysis of a MMT type coordinated fiscal and monetary stabilization policy in a dynamic Keynesian model
Asada, Tōichirō; Zimka, Rudolf; Demetrian, Michal; … - In: Journal of economic behavior & organization : JEBO 215 (2023), pp. 442-454
Persistent link: https://www.econbiz.de/10014478524
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Collateral framework: liquidity premia and multiple equilibria
Lengwiler, Yvan; Orphanides, Athanasios - 2021
Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting exception in this respect. It relies on external...
Persistent link: https://www.econbiz.de/10012511460
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Collateral framework : liquidity premia and multiple equilibria
Lengwiler, Yvan; Orphanides, Athanasios - 2021
Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting exception in this respect. It relies on external...
Persistent link: https://www.econbiz.de/10012502045
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Collateral framework: liquidity premia and multiple equilibria
Lengwiler, Yvan; Orphanides, Athanasios - 2021
Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting exception in this respect. It relies on external...
Persistent link: https://www.econbiz.de/10012502094
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Collateral framework : liquidity premia and multiple equilibria
Lengwiler, Yvan; Orphanides, Athanasios - In: Journal of money, credit and banking : JMCB 56 (2024) 2/3, pp. 489-516
Persistent link: https://www.econbiz.de/10014544965
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Collateral framework : liquidity premia and multiple equilibria
Lengwiler, Yvan; Orphanides, Athanasios - 2021
Persistent link: https://www.econbiz.de/10012500038
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The BMW model : a new framework for teaching monetary macroeconomics in closed and open economies
Bofinger, Peter (contributor); Mayer, Eric (contributor);  … - 2003 - rev.
While the IS/LM-AS/AD model is still the central tool of macroeconomic teaching it has been criticised by several economists. The model is unable to deal with a monetary policy that uses the interest rate as its operating target ( Romer [2000]). Walsh [2002] has criticised that it is not suited...
Persistent link: https://www.econbiz.de/10010498980
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The BMW model: A new framework for teaching monetary macroeconomics in closed and open economies
Bofinger, Peter; Mayer, Eric; Wollmershäuser, Timo; … - 2003
While the IS/LM-AS/AD model is still the central tool of macroeconomic teaching it has been criticised by several economists. The model is unable to deal with a monetary policy that uses the interest rate as its operating target ( Romer [2000]). Walsh [2002] has criticised that it is not suited...
Persistent link: https://www.econbiz.de/10010305749
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From Wicksell to Le Bourva to modern monetary theory : a Wicksellian connection
Barbaroux, Nicolas; Ehnts, Dirk H. - In: History of economic ideas : HEI 28 (2020) 2, pp. 65-88
Persistent link: https://www.econbiz.de/10012656254
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From Wicksell to Le Bourva to Modern Monetary Theory : a Wicksell connection
Ehnts, Dirk H.; Barbaroux, Nicolas - 2017
Modern Monetary Theory (MMT) has relied on the examination of balance sheets, which has led to advancements in the … bring forward old discussions and insights, which can be integrated into recent debates. MMT authors emphasize the … that a horizontalist approach - adopted by MMT scholars - was already present in Wicksell (1898) and in the writings of …
Persistent link: https://www.econbiz.de/10011747147