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monetary theory

Disequilibrium as the origin, originality, and challenges of Clower's microfoundations of monetary theory

Disequilibrium as the origin, originality, and challenges of Clower's microfoundations of monetary theory

... utility theory foundations of monetary theory] does not really fit too well with some of your other ideas – particularly the ideas adumbrated in the second half of your book on disequilibrium ...

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Tax and modern monetary theory

Tax and modern monetary theory

... One of the consequent curiosities of MMT is its indifference towards describing at least some of the aspects of the role of tax within such an economy. It is stressed that this omission is partial: as several MMT authors ...

11

Introduction: Augusto Graziani and recent advances in the monetary theory of production

Introduction: Augusto Graziani and recent advances in the monetary theory of production

... Augusto Graziani (Naples, 1933 – Naples, 2014), to the memory of whom this special issue of Metroeconomica is devoted, was one of the greatest Keynesian economists of the second half of the 20 th century (Costabile, ...

6

An Empirical Study of Japanese and South Korean Exchange Rates Using the Sticky Price Monetary Theory

An Empirical Study of Japanese and South Korean Exchange Rates Using the Sticky Price Monetary Theory

... sticky-price monetary theory as shown below in equation (1) where r represents the exchange rate, c represents the constant, m represents log money supply, y represents productivity, i represents interest, ...

15

From Monetary Theory of Production to Culture Nature Life Process:Feminist Institutional Elaborations of Social Provisioning

From Monetary Theory of Production to Culture Nature Life Process:Feminist Institutional Elaborations of Social Provisioning

... of monetary theory of ...delineating monetary-non-monetary distinction of motivation in organizing activities is not an argument of actual separate monetary and non-monetary ...

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The No-Bond Economy and Its Importance in Monetary Theory

The No-Bond Economy and Its Importance in Monetary Theory

... in monetary theory that ask the question: why do individuals simultaneously hold money and bonds, even though bonds appear to generate the same flow of payments at a lower price? This question about ...

15

Essays on Monetary Theory and Policy

Essays on Monetary Theory and Policy

... concerning Monetary Theory and Policy. Essay 1, "Monetary Policy and Asset Prices", develops a dynamic model in which money and a financial asset compete as media of ...with monetary ...

77

Monetary theory and electronic money : reflections on the Kenyan experience

Monetary theory and electronic money : reflections on the Kenyan experience

... A generalization of Manuelli and Sargent would allow credit arrangements to be used to implement trade among individuals who remain in their home location and deal with each other repeatedly over time. This is also ...

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The E Monetary Theory

The E Monetary Theory

... of monetary policy in correcting the deviation of real rate from its natural level due the the price ...that monetary policy can intervene to improve the social ...Unconventional monetary policy ...

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Does Fiscal Policy Affect the Monetary Transmission Mechanism? A Monetary Theory of Production (MTP) Response to the New Consensus Macroeconomics (NCM) Perspective

Does Fiscal Policy Affect the Monetary Transmission Mechanism? A Monetary Theory of Production (MTP) Response to the New Consensus Macroeconomics (NCM) Perspective

... accommodative monetary policy and discretionary fiscal policy will continue for a sufficiently long period of time for the outcome of the lending process of banks triggered by the production decisions of firms to ...

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THE KEYNES SOLUTION: THE PATH TO GLOBAL ECONOMIC PROSPERITY VIA A SERIOUS MONETARY THEORY

THE KEYNES SOLUTION: THE PATH TO GLOBAL ECONOMIC PROSPERITY VIA A SERIOUS MONETARY THEORY

... liquidity theory and George Soros’s concept of reflexivity reject the ergodic axiom This alternative view, still provides one with a scientific understanding of the functioning of financial markets in a capitalist ...

23

The E Monetary Theory

The E Monetary Theory

... Using the sparse grid, we solve a DSGE model where there are two types of electronic money: reserves (e-money that is issued by the central bank for banks) and zero maturity deposits (e-money that is issued by banks). ...

55

Towards a reformulation of monetary theory: competitive banking

Towards a reformulation of monetary theory: competitive banking

... But though there is a long tradition in macro­ economics on focusing on third and fourth order effects — dating at least back to the real balance effect — there is a consensus that a pea[r] ...

34

The Implication of Monetary and Fiscal Policy Interactions for the Price Levels: the Fiscal Theory of the Price Level Revisited

The Implication of Monetary and Fiscal Policy Interactions for the Price Levels: the Fiscal Theory of the Price Level Revisited

... passive monetary policy as higher interest rates can lead to the issuance of more government ...a monetary contraction can be an increase in private consumption through a positive wealth ...

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Monetary aggregates and monetary policy in Peru

Monetary aggregates and monetary policy in Peru

... The results of the recursive analysis of the three hypotheses tested in this paper (marginal predictive content, weak and strong exogeneity), using both real-time and re- vised final data for monetary aggregates, ...

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Fiscal and Monetary Policy in a New Keynesian Model with Tobin’s Q Investment Theory Features

Fiscal and Monetary Policy in a New Keynesian Model with Tobin’s Q Investment Theory Features

... two-channel monetary policy, ...the monetary one we adopt a simple rule for public consumption imported in the literature by Heer and Maußner ...both monetary and fiscal policy ...

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Essays in applied macroeconomic theory: volatility, spreads, and unconventional monetary policy tools

Essays in applied macroeconomic theory: volatility, spreads, and unconventional monetary policy tools

... There is a broader literature on reserves and how monetary policy can be carried out by altering them. This literature has become particularly relevant given the use of quantitative easing (QE) by major economies ...

154

The monetary policy debate since October 1979: lessons for theory and practice

The monetary policy debate since October 1979: lessons for theory and practice

... of monetary policy created pressure for increased transparency of interest rate policy ...about monetary policy explicitly in terms of interest ...analyze monetary policy in models with- out money ...

20

Financial frictions and the monetary transmission mechanism: theory, evidence and policy implications

Financial frictions and the monetary transmission mechanism: theory, evidence and policy implications

... area monetary transmission process using different data and methodologies: structural and VAR macro-models for the euro area and the national economies, panel micro data analyses of the investment behaviour of ...

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Interaction between monetary policy and bank regulation: theory and European practice

Interaction between monetary policy and bank regulation: theory and European practice

... which monetary policy can affect financial stability and, indirectly, banks’ lending decisions, such as the risk taking channel ...Nowadays monetary accommodation remains critical in supporting the recovery ...

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