We examine the impact of large scale asset purchase announcements of government bonds on real GDP and the CPI in the United Kingdom and the United States with a Bayesian VAR, estimated on monthly data from 2009M3 to 2014M5. We identify an asset purchase announcement shock with four different...

In this paper I first provide an overview of alternative approaches to money, contrasting the orthodox approach, in which money is neutral, at least in the long run; and the Marx-Veblen-Keynes approach, or the monetary theory of production. I then focus in more detail on two main categories: the...

This paper examines the causes and consequences of the current global financial crisis. It largely relies on the work of Hyman Minsky, although analyses by John Kenneth Galbraith and Thorstein Veblen of the causes of the 1930s collapse are used to show similarities between the two crises. K.W....

The Federal Reserve System or the Fed is one of the most prestigious institutions in the world.Founded by the Federal Reserve Act in 1913, the Fed has the responsibility of setting the monetary policy of the U.S. The Fed's actions affect the money supply in the U.S. market which has a direct...

The paper analyzes the impacts of Islamic and conventional Banks reserves' restrictions in Sudan. Comprehensively, those restrictions are necessary for health banks, performance and the viability of the macroeconomic performance in any country. The selected period of the analysis (2007-2009) is...

The continuous regressions in the per capita income of the Sudanese people have triggered many suggestions to ameliorate their productive capabilities. One of them was the facilitating in financing programs through official channels. However, there are many structural impediments that inhibit...

The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...

Hasta 2008, el excedente de liquidez se caracterizó por mantenerse en niveles reducidos (Bs1.000 millones en promedio). Sin embargo, desde 2009 estos niveles se elevaron considerablemente (en febrero de 2010 superaron los Bs8.000 millones). La investigación busca las razones que determinaron...

The short term market is an important source for banks and institutions to secure funds to align their short term asset liability mismatches. Central Banks use the market to signal policy stance changes. In India, Reserve Bank of India uses monetary policy not only to signal the policy stances...