Monetary Policy Implementation: Theory, Past, and Present by Ulrich Bindseil

Monetary Policy Implementation: Theory, Past, and Present



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Monetary Policy Implementation: Theory, Past, and Present Ulrich Bindseil ebook
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ISBN: 0199274541, 9781435607163
Format: pdf
Page: 288


Agents can use equity as a means of I present a dynamic equilibrium, microfounded monetary asset–pricing framework with multiple assets and aggregate uncertainty regarding liquidity needs, and discuss the main normative and positive policy implications of the theory . Nor did Keynesian models Nor does Keynesian theory, of the type used by Krugman, insist that an economy will remain mired in recession without a fiscal stimulus to prime the pump. Keynesian models didn't predict that unconventional monetary policy (QE2) would be insufficient to raise expectations of future inflation, and thus would be unable to bust us out of the liquidity trap. But the theories differ in their analysis of the source of these expectations. The need to implement monetary policy not as a self-contained, isolated set of rules comes out clearly in a comprehensive ebook recently edited by Reichlin and Baldwin (2013), Is Inflation Targeting Dead? A learning curve has yet to be traversed, but at least three broad questions now present themselves. Asset Prices, Liquidity, and Monetary Policy in the Search Theory of Money. The lessons of the North Atlantic crisis for economic theory and policy. Austrians blame central bank monetary policy, while Keynesians see them as the result of high animal spirits following a period of relative calm and prosperity. Central Banking After the Crisis. As they and macroprudential regulation. The author presents a search-based model in which money coexists with equity shares on a risky aggregate endowment. Sure But America 2008-present has not looked like America 1975-1985.