Central Banking in the Modern World: Alternative PerspectivesMarc Lavoie, Mario Seccareccia 'The book provides a good variety of articles capable of satisfying different readers regarding central banking.' - Eric Tymoigne, Journal of Economic Issues According to the New Consensus in monetary economics, monetarism is dead and cent |
From inside the book
Results 1-5 of 92
Page 1
... rate ( or a set of rates ) for the money market ... The quantity theory of money is no longer tenable . The most ... inflation that is determined by the growth rate of the money supply and that the central bank ought to target a constant ...
... rate ( or a set of rates ) for the money market ... The quantity theory of money is no longer tenable . The most ... inflation that is determined by the growth rate of the money supply and that the central bank ought to target a constant ...
Page 2
... rate of inflation being equal to the target rate of inflation . When this is achieved , the real rate of interest will have reached its equilibrium level , coinciding with the natural rate of interest . As Le Bourva says in the above ...
... rate of inflation being equal to the target rate of inflation . When this is achieved , the real rate of interest will have reached its equilibrium level , coinciding with the natural rate of interest . As Le Bourva says in the above ...
Page 3
... rate of interest . Indeed , the assumed endogeneity of the money supply ... inflation expectations , thus giving rise to what has been called the new ... rate to influence the rate of inflation . The separation between theory and reality ...
... rate of interest . Indeed , the assumed endogeneity of the money supply ... inflation expectations , thus giving rise to what has been called the new ... rate to influence the rate of inflation . The separation between theory and reality ...
Page 4
... rates of interest in the long run . On the other hand , monetary policy has no long - run impact on real interest rates and output growth , but it can achieve the inflation rate target set by the central bank . Lavoie argues that the ...
... rates of interest in the long run . On the other hand , monetary policy has no long - run impact on real interest rates and output growth , but it can achieve the inflation rate target set by the central bank . Lavoie argues that the ...
Page 5
... inflation - rate targets imply higher long - term real interest rates and lower long - run output growth . Smithin's contribution , however , focuses on the interest reaction function of the central bank - on the so - called Taylor rule ...
... inflation - rate targets imply higher long - term real interest rates and lower long - run output growth . Smithin's contribution , however , focuses on the interest reaction function of the central bank - on the so - called Taylor rule ...
Contents
15 | |
35 | |
3 Interest Rate Operating Procedures and Income Distribution | 57 |
Going Beyond the New Consensus | 70 |
TRANSMISSION MECHANISMS | 89 |
Inside Evidence Revisited | 91 |
Setting the Agenda | 112 |
7 Modern Central Banks Only Have Real Effects | 127 |
10 The Role of Monetary Policy in Post Keynesian StockFlow Consistent Macroeconomic Growth Models | 183 |
HISTORICAL PERSPECTIVES | 209 |
Dornbusch versus Tobin | 211 |
12 Minsky and Tobin on the Instability of a Monetary Economy | 226 |
13 Considerations on Allan H Meltzers History of the Federal Reserve | 244 |
14 Central Banking in Early Industrialization | 262 |
Name Index | 283 |
Subject Index | 289 |
8 Central Banking in the Monetary Circuit | 144 |
9 LongTerm Interest Rates Liquidity Preference and the Limits of Central Banking | 164 |
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Common terms and phrases
aggregate demand analysis Arestis argued assumptions Bank B2 Bank of Canada bank's behaviour Cambridge Canadian capital causal central bank money changes chapter consensus model debt determined domestic economists Edward Elgar empirical endogenous money equation equities exogenous expectations Federal Reserve fiat money financial markets Friedman growth rate households impact income increase inflation rate inflation target interbank investment IROP Journal of Economics Keynes Lavoie loans long-run long-term bonds long-term rates macroeconomics Meltzer Minsky Minsky's Monetary Economics monetary policy money market money supply NAIRU natural rate NC model neoclassical nominal interest rates open economy overnight rate payment Phillips curve PK model post-Keynesian price level profits rate of growth rate of inflation rate of interest rate of return real interest rate real rate result role Seccareccia Second Bank sector Setterfield settlement balances shock short-term Smithin stability Tobin transmission mechanism Treasury bills variables wages Wicksellian zero
References to this book
Handbook of Research on Writing: History, Society, School, Individual, Text Charles Bazerman No preview available - 2008 |