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 44
Page 1
... real interest rates , in order to control aggregate demand and the rate of inflation . They claim that short - run variations in real interest rates will eventually bring the output gap to zero , with the actual rate of 1 Introduction.
... real interest rates , in order to control aggregate demand and the rate of inflation . They claim that short - run variations in real interest rates will eventually bring the output gap to zero , with the actual rate of 1 Introduction.
Page 2
Alternative Perspectives Marc Lavoie, Mario Seccareccia. output gap to zero , with the actual rate of inflation being equal to the target rate of inflation . When this is achieved , the real rate of interest will have reached its ...
Alternative Perspectives Marc Lavoie, Mario Seccareccia. output gap to zero , with the actual rate of inflation being equal to the target rate of inflation . When this is achieved , the real rate of interest will have reached its ...
Page 5
... zero real rate , a small but positive real rate , and a real rate determined by the rate of growth of total factor productivity . He concludes in favour of the middle option on the grounds that the rentier class would accept no other ...
... zero real rate , a small but positive real rate , and a real rate determined by the rate of growth of total factor productivity . He concludes in favour of the middle option on the grounds that the rentier class would accept no other ...
Page 21
... zero . This means that the ro parameter must be such that : Torr ( 80-8n ) / B nT ( 1.6 ) If the ro parameter is set in accordance with equation ( 1.6 ) , then in long - run equilibrium the actual and the target inflation rates will be ...
... zero . This means that the ro parameter must be such that : Torr ( 80-8n ) / B nT ( 1.6 ) If the ro parameter is set in accordance with equation ( 1.6 ) , then in long - run equilibrium the actual and the target inflation rates will be ...
Page 22
... zero , since changing prices confuse signals procured by relative prices , thus leading to a decline in productivity growth ; New Keynesian authors , like Akerlof ( 2002 ) , believe that this optimal rate of inflation is slightly above zero ...
... zero , since changing prices confuse signals procured by relative prices , thus leading to a decline in productivity growth ; New Keynesian authors , like Akerlof ( 2002 ) , believe that this optimal rate of inflation is slightly above zero ...
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 |