منابع مشابه
Unpleasant Monetarist Arithmetic: Macroprudential Edition
The 2008 crisis highlighted the linkages between the financial sector and the real economy, as well as between the corresponding stabilization policies: macroprudential and monetary (M&Ms). Our game-theoretic analysis focuses on the increasingly adopted separation setup, in which M&Ms are conducted by two different institutions (e.g. in Australia, Canada, Eurozone, Sweden, Switzerland and the U...
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This paper uses a simple money demand and supply framework to estimate the impact of quantitative easing (QE) on asset prices and nominal spending. We use standard money accounting to try to establish the impact of asset purchases on broad money holdings. We show that the initial impact of £200 billion of asset purchases on the money supply was partially offset by other ‘shocks’ to the money su...
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Robert H. Rasohe is Associate Professor of Economics at Michigan State University, East Lansing, Michigan. During the 1971-72 academic year, Professor Rasche was a visiting scholar at the Federal Reserve Bank of St. Louis, The following paper evolved out of discussions and seminars with the stafi of this Bank during his visit. The paper is presented in order to foster further discussion of thos...
متن کاملNew Monetarist Economics: Models
The purpose of this paper is to discuss some of the models used in New Monetarist Economics, which is our label for a body of recent work on money, banking, payments systems, asset markets, and related topics. A key principle in New Monetarism is that solid microfoundations are critical for understanding monetary issues. We survey recent papers on monetary theory, showing how they build on comm...
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ژورنال
عنوان ژورنال: Quarterly Review
سال: 1985
ISSN: 0271-5287
DOI: 10.21034/qr.914