Monetary Policy Crisis Management as a Threat to Economic Order
نویسندگان
چکیده
منابع مشابه
Monetary Policy Effectiveness in the Period of Economic Crisis
Since 2007, many monetary authorities have drastically changed its monetary policy. They began an aggressive struggle with the biggest economic crisis since the Great Depression. Despite the substantial decline in Central banks interest rates in US and EMU and despite the sharp easining of monetary policy in many other countries, the cost of credit to both households and businesses has generall...
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The initial government debt-to-GDP ratio and the government’s commitment play a pivotal role in determining the welfare-optimal speed of fiscal consolidation in the management of a debt crisis. Under commitment, for low or moderate initial government debt-to-GPD ratios, the optimal consolidation is very slow. A faster pace is optimal when the economy starts from a high level of public debt impl...
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What are the economic effects of an interest rate cut when an economy is in the midst of a financial crisis? Under what conditions will a cut stimulate output and employment, and raise welfare? Under what conditions will a cut have the opposite effects? We answer these questions in a general class of open economy models, where a financial crisis is modelled as a time when collateral constraints...
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Since the turn of the millennium, voters in the industrialized countries are increasingly expressing their dissatisfaction. Based on the theoretical concepts of justice by Hayek (1976), Rawls (1972, 2001) and Brennan and Buchanan (2000 [1985]) we argue that the growing dissatisfaction is rooted in the asymmetric pattern in monetary policies since the 1980s for two reasons. First, the structural...
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Indeed, one of the rst lessons one learns from studying a variety of hypothetical models is that the problem of economic stabilization is, even in principle, an extremely intricate one, and that a much more thorough investigation of both theoretical principles and empirical relationships would be needed before detailed policy recommendations could be justi ed.A. W. Phillips (1957, reprinted 1...
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ژورنال
عنوان ژورنال: Credit and Capital Markets – Kredit und Kapital
سال: 2017
ISSN: 2199-1227,2199-1235
DOI: 10.3790/ccm.50.2.151