On Monetary Stability and Monetary Reform
نویسنده
چکیده
منابع مشابه
EP 205 . tex A Reform of the Eurosystem ’ s Monetary - Policy Strategy Is Increasingly
A reform of the Eurosystem's inferior monetary-policy strategy is increasingly urgent, as noted by a number of observers. For instance, a recent extensive CEPR report finds the that the prominent first pillar of the Eurosystem's strategy, the money-growth indicator, " looks increasingly ridiculous, giving perverse signals that the ECB probably ignores " , and that it is " flawed beyond repair–b...
متن کاملEP 205 . tex A Reform of the Eurosystem ’ s Monetary - Policy Strategy Is Increasingly Urgent ∗
A reform of the Eurosystem's inferior monetary-policy strategy is increasingly urgent, as noted by a number of observers. For instance, a recent extensive CEPR report finds the that the prominent first pillar of the Eurosystem's strategy, the money-growth indicator, " looks increasingly ridiculous, giving perverse signals that the ECB probably ignores " , and that it is " flawed beyond repair–b...
متن کاملThe sovereign money initiative in Switzerland: an economic assessment
The Sovereign Money Initiative will be submitted to the Swiss people in 2018. This paper reviews the arguments behind the initiative and discusses its potential impact. I argue that several arguments are inconsistent with empirical evidence or with economic logic. In particular, controlling sight deposits neither stabilizes credit nor avoids financial crises. Also, assuming that deposits at the...
متن کاملA New Policy Environment to Achieve Monetary Goals
Monetary environment as the core of financial system has been functionally designed in light of the new set of extensive goals including financial stability, sustainable noninflationary growth, external sustainability, and price stability. A comprehensive monetary policy framework is proposed for Iran which systematically include the new goals, stance variables, instruments, transmission mechan...
متن کاملMonetary and Macro-prudential Policies: An Integrated Analysis
This paper studies the interaction between monetary and macro-prudential policies in a simple model with both nominal and financial frictions. The nominal friction gives rise to a conventional monetary policy objective emphasized in the New Keynesian literature. The financial friction, in the form of an occasionally binding collateral constraint, gives rise to a financial stability objective. ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2015