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
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Page 4
... banking , and hence the latter topic became the prime focus of our edited volume . This book is divided into three parts . The first part specifically discusses the new consensus model . The second part broadly deals with the ...
... banking , and hence the latter topic became the prime focus of our edited volume . This book is divided into three parts . The first part specifically discusses the new consensus model . The second part broadly deals with the ...
Page 5
... banks . At least five points are at issue . First , while central banks control overnight interest rates , other short - term rates and long - term rates may be resilient to change . Second , the equilibrium of saving and investment at ...
... banks . At least five points are at issue . First , while central banks control overnight interest rates , other short - term rates and long - term rates may be resilient to change . Second , the equilibrium of saving and investment at ...
Page 7
... Second , Milton Friedman's optimal money supply policy rule becomes irrelevant . Third , Feldstein's argument about the infinite cost of inflation , based on Marshall / Harberger consumer surplus triangles , weak as it was to start with ...
... Second , Milton Friedman's optimal money supply policy rule becomes irrelevant . Third , Feldstein's argument about the infinite cost of inflation , based on Marshall / Harberger consumer surplus triangles , weak as it was to start with ...
Page 39
... bank effectively supplants any such stability mechanism ( specifically , it replaces the Pigou effect with its own , administered ... Second , it describes monetary policy as Central banking , stability and macroeconomic outcomes 39.
... bank effectively supplants any such stability mechanism ( specifically , it replaces the Pigou effect with its own , administered ... Second , it describes monetary policy as Central banking , stability and macroeconomic outcomes 39.
Page 40
Alternative Perspectives Marc Lavoie, Mario Seccareccia. of money . Second , it describes monetary policy as being conducted through the manipulation of interest rates rather than the quantity of money in circulation . Finally , the ...
Alternative Perspectives Marc Lavoie, Mario Seccareccia. of money . Second , it describes monetary policy as being conducted through the manipulation of interest rates rather than the quantity of money in circulation . Finally , the ...
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 |