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Monetary Growth Since the Mid‐1960s

J. C. R. Dow and I. D. Saville

in A Critique of Monetary Policy: Theory and British Experience

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283195
eISBN:
9780191596186
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283199.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

The chapters up to this point have presented a theory of economic analysis. This chapter expands on this and presents a detailed analysis of monetary growth in the UK since the mid‐1960s. The ... More


Friedman and Divisia Monetary Measures

William A. Barnett

in Milton Friedman: Contributions to Economics and Public Policy

Published in print:
2016
Published Online:
August 2016
ISBN:
9780198704324
eISBN:
9780191773761
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198704324.003.0016
Subject:
Economics and Finance, Economic History, Macro- and Monetary Economics

This chapter explores the relationship between Milton Friedman’s work and the work on Divisia monetary aggregation, originated by William A. Barnett. The paradoxes associated with Friedman’s work are ... More


Central Bank Rate as an Instrument of Monetary Control

J. C. R. Dow and I. D. Saville

in A Critique of Monetary Policy: Theory and British Experience

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283195
eISBN:
9780191596186
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283199.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

The use of bank rates acting as a source of control is the focus of this chapter. It examines the imposition of the Minimum Lending Rate in 1972. The role of the central bank in setting rates and ... More


Empirical Identification of the Vector Autoregression: The Causes and Effects of US M2 *

Kevin D. Hoover, Selva Demiralp, and Stephen J. Perez

in The Methodology and Practice of Econometrics: A Festschrift in Honour of David F. Hendry

Published in print:
2009
Published Online:
September 2009
ISBN:
9780199237197
eISBN:
9780191717314
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199237197.003.0002
Subject:
Economics and Finance, Econometrics

The M2 monetary aggregate is monitored by the Federal Reserve, using a broad brush theoretical analysis and an informal empirical analysis. This chapter illustrates empirical identification of an ... More


Monetary Policy in the Digital Age

Claus D. Zimmermann

in Regulating Blockchain: Techno-Social and Legal Challenges

Published in print:
2019
Published Online:
August 2019
ISBN:
9780198842187
eISBN:
9780191878206
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198842187.003.0006
Subject:
Law, Intellectual Property, IT, and Media Law, Company and Commercial Law

The potential of digital money to replace state-issued fiat money as the predominant means of payment for retail goods combined with its ability to flow freely across international borders is ... More


Sterilization and the Capital Inflow Problem in East Asia, 1987–97

Shinji Takagi and Taro Esaka

in Regional and Global Capital Flows: Macroeconomic Causes and Consequences

Published in print:
2001
Published Online:
February 2013
ISBN:
9780226386768
eISBN:
9780226387017
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226387017.003.0007
Subject:
Economics and Finance, International

This chapter investigates how monetary authorities responded to large and rapidly increasing capital inflows. It indirectly tests whether tight monetary policy measures—described broadly as ... More


On the Role of Money Targets in the Monetary Policy Framework in SSA: Insights from a New Keynesian Model with Incomplete Information

Andrew Berg, Rafael Portillo, and Filiz Unsal

in Monetary Policy in Sub-Saharan Africa

Published in print:
2018
Published Online:
April 2018
ISBN:
9780198785811
eISBN:
9780191827624
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198785811.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics, Behavioural Economics

Many low-income countries continue to describe their monetary policy framework in terms of targets on monetary aggregates. This chapter extends the New Keynesian model to provide a role for ‘M’ in ... More


A Price for Everything?

Marc Fleurbaey and Didier Blanchet

in Beyond GDP: Measuring Welfare and Assessing Sustainability

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199767199
eISBN:
9780199332557
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199767199.003.0004
Subject:
Economics and Finance, Public and Welfare

This chapter reviews old and recent arguments for and against monetary aggregates as social welfare indicators. It is organized as follows. Sections 3.1 and 3.2 examine two different ... More


Nominal Anchoring with Liquid Monetary Policy Assets

Guillermo Calvo

in Macroeconomics in Times of Liquidity Crises: Searching for Economic Essentials

Published in print:
2016
Published Online:
May 2017
ISBN:
9780262035415
eISBN:
9780262336017
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262035415.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

The chapter shows that existence of a unique Rational Expectations equilibrium can be ensured even if the Taylor Principle – stating that the policy interest rate increases by more than the increase ... More


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