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This report is one of the first studies discussing monetary base analysis and control model, a concept even today is alive and more developed by, for example, by IMF to use its analysis. The study presents monetary base approach to control of money flows and the links between monetary base,...
Persistent link: https://www.econbiz.de/10012892419
rationality' in a laboratory (documented in Smith 2008). The disagreement is rooted in two different meanings of the term … ‘ecological rationality': first, as a description of the contingent reasonableness of evolved norms and behaviors (ER1), and …
Persistent link: https://www.econbiz.de/10013077239
This paper addresses the perspective of Hayek’s doctrine on monetary arrangements in the economy and his favorable argument for an international central bank over national central bank. I also discussed Hayek’s view on free banking (i.e. for the free issue of bank notes) that would enable...
Persistent link: https://www.econbiz.de/10011260508
Bagus and Howden (2011) argue that price stickiness is a poor justification for advocating a flexible money supply through the issuing of fiduciary media under central or free banking. They view the contraction in output following an exogenous increase in money demand as an optimal response,...
Persistent link: https://www.econbiz.de/10013066751
Bitcoin has enabled competition between digital cryptocurrencies and traditional legal tender fiat currencies. Despite rapidly increasing acceptance, so far the affirmation of cryptocurrency as better money has been thwarted by dramatic deflationary price instability. Successful at disposing of...
Persistent link: https://www.econbiz.de/10013006540
Persistent link: https://www.econbiz.de/10011944433
Persistent link: https://www.econbiz.de/10011985213
Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost...
Persistent link: https://www.econbiz.de/10011389179
Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused by the Corona Pandemic, in particular lockdowns, part is caused by the Ukrainian War, part is caused by European sanctions, and part - and not the smallest one - is caused by...
Persistent link: https://www.econbiz.de/10013553631
is meant by rational economic theory” (Neurath) and whether “socialism is the abolition of rational economy” (Mises … conceptions of rationality defended by Neurath and Mises and suggests some consequent insights with respect to Viennese Late … Enlightenment, contemporary rationality wars, the socialist calculation debates, and the foundations of welfare economics. …
Persistent link: https://www.econbiz.de/10012607642