This study aims to analyze the notaries who do not carry out obligation identify source of funds for their service users and find a criminal law policy regarding origin Notary future (iusconstituendum). research uses normative legal research, using statute conceptual approaches. The results this are notary does user verify documents services directly. There is strong allegation that clients sus...

In this paper we introduce a small Keynesian model of economic growth which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate updated in an adaptive fashion. The model contains two potentially destabilizing feedback chains, the so...

The Ramsey rule for the consumption rate of discount assumes a transfer of money of a (representative) agent at one point in time to the same agent at another point in time. Climate policy (implicitly) transfers money not just over time but also between agents. I propose three alternative modifications of the Ramsey rule to account for this. Taking the Ramsey rule as given, I derive an intuitiv...

I study 46 vintages of FRB/US, the principal macro model used by Federal Reserve, as measures of real-time model uncertainty and examine the robustness of commonly applied, simple monetary policy rules. Model uncertainty turns out to be a substantial problem: key model properties di¤er in important ways across model vintages as do the optimized parameterizations of candidate rules. Among the ru...

This paper explores the similarity and differences between the credibility problem of monetary policy and the under-investment problem of price regulation. In both cases reputational solutions are possible provided that the policymaker is sufficiently far-sighted. But even if regulators are far-sighted, this solution to the investment problem is undermined if capital depreciates slowly. Flexibl...

We first document a large secular shift in the estimated response of the entire term structure of interest rates to inflation and output in the United States. The shift occurred in the early 1980s. We then derive an equation that links these responses to the coefficients of the central bank's monetary policy rule for the short-term interest rate. The equation reveals two countervailing forces t...

This paper studies loan activity in a context where banks have to follow Basel Accord type rules and need to find financing with the households. Loan activity typically decreases when investment returns of entrepreneurs decline, and we study which type of policy could revigorate an economy in a trough. We find that active monetary policy increases loan volume even when the economy is in a good ...