The Role of credit in a Keynesian monetary economy

2005 ◽  
Vol 17 (4) ◽  
pp. 489-511 ◽  
Author(s):  
Giancarlo Bertocco
Keyword(s):  
Monetary Economy

Vom Gelde

2010 ◽  
Vol 61 (3) ◽  
Author(s):  
Karlhans Sauernheimer
Keyword(s):  
Public Debt ◽  
Short Review ◽  
Real Sector ◽  
Creation Process ◽  
Monetary Economy ◽  
Historical Role ◽  
Money Creation ◽  
The One ◽  
Different Levels

SummaryThe paper looks back on the historical role of money. It starts by commenting on the different perceptions of money and a monetary economy by economists and noneconomists. Later on special emphasis is given to the most important functions and the different kinds of money in history. Furthermore there is a short review on the money creation process as well as on the effects of money on the real sector in the economy, sometimes stimulating production and employment and sometimes generating inflation. The paper finally links the historical monetary experiences to two recent disturbing monetary developments: the 2008 worldwide crisis of the banking and financial industries on the one hand and the actual and potential solvency crisis of Euro-area countries. It concludes with some remarks on the feasability of a monetary union between countries with different levels of and different attitudes to public debt.

scholarly journals On the Dynamic Role of Monopolistic Competition in the Monetary Economy

2011 ◽  
Vol 01 (03) ◽  
pp. 114-117 ◽  
Author(s):  
Masayuki Otaki ◽  
Yoshihiro Tamai
Keyword(s):  
Monopolistic Competition ◽  
Monetary Economy

scholarly journals Challenges for Modern Monetary Policy

2018 ◽  
Vol 7 (2) ◽  
pp. 5-24 ◽  
Author(s):  
Nikola Fabris
Keyword(s):  
Monetary Policy ◽  
Global Financial Crisis ◽  
Banking Supervision ◽  
Macroprudential Policy ◽  
New Approach ◽  
The Past ◽  
Monetary Economy ◽  
Policy Objectives ◽  
The Global Financial Crisis

Abstract The first central banks were founded in the XVII century and monetary policy has been evolving ever since. Knowledge on monetary economy has improved significantly over the last couple of decades and a consensus has been reached in a number of areas. As a result, hyperinflations have been extremely rare over the past decades. The global financial crisis challenged traditional monetary policy that was based on the approach involving one instrument (reference interest rate) and one goal (price stability). It is obvious that we need a new approach to monetary policy and I believe that changes will happen gradually in the future. This paper consists of two parts. The first part covers the traditional monetary policy and deals with issues where consensus has been reached, as well as with issues on monetary policy objectives, transparency, and macroprudential policy. The second part addresses the issues that pose a challenge for monetary policy and for which there is no complete consensus. This part elaborates on the dilemma involving rules versus discretions, a new approach to banking supervision, monetary policy during a crisis, the role of econometric models, and the need for international coordination of monetary policy.

Currency substitution as an automatic stabilizer

2021 ◽  
pp. 1-24
Author(s):  
Shu-Hua Chen
Keyword(s):  
Inflation Rate ◽  
Aggregate Stability ◽  
Currency Substitution ◽  
Cyclical Fluctuations ◽  
Monetary Economy ◽  
Automatic Stabilizer ◽  
Path Stability ◽  
Equilibrium Indeterminacy ◽  
Domestic Inflation

Abstract In the presence of frictions, the existing literature shows that currency substitution is detrimental for domestic aggregate stability. This paper singles out the role of currency substitution and shows that diversified currency holdings operate as an automatic stabilizer that mitigates belief-driven cyclical fluctuations in Farmer’s (1997) indeterminate monetary economy. When the foreign inflation rate is lower than the domestic inflation rate, the model’s steady state always displays saddle-path stability. Hence, equilibrium indeterminacy originally present in the domestic country is entirely removed in the presence of diversified currency holdings. When the foreign inflation rate is higher than the domestic inflation rate, then depending on the degrees of currency substitution and relative risk aversion, indeterminacy is either impossible or the requisite level of the foreign inflation rate for indeterminacy is too high to square with data. The stabilizing effect of diversified currency holdings on domestic aggregate stability is robust to whether domestic and foreign currencies display as Edgeworth substitutes or complements, or are additively separable in the household’s preferences.

Role of dactinomycin in the improved survival of children with Wilms' tumor

JAMA ◽  
1966 ◽  
Vol 195 (12) ◽  
pp. 1005-1009 ◽  
Author(s):  
D. J. Fernbach
Keyword(s):  
Wilms Tumor

Role of the allergist in diagnosis and management of patients with uveitis

JAMA ◽  
1966 ◽  
Vol 195 (3) ◽  
pp. 167-172 ◽  
Author(s):  
T. E. Van Metre
Keyword(s):  
Diagnosis And Management

The power of norms to sway fused group members

2018 ◽  
Vol 41 ◽  
Author(s):  
Winnifred R. Louis ◽  
Craig McGarty ◽  
Emma F. Thomas ◽  
Catherine E. Amiot ◽  
Fathali M. Moghaddam
Keyword(s):  
Evolutionary Anthropology ◽  
Normative Systems ◽  
Violent Extremism ◽  
Identity Fusion ◽  
Group Members

AbstractWhitehouse adapts insights from evolutionary anthropology to interpret extreme self-sacrifice through the concept of identity fusion. The model neglects the role of normative systems in shaping behaviors, especially in relation to violent extremism. In peaceful groups, increasing fusion will actually decrease extremism. Groups collectively appraise threats and opportunities, actively debate action options, and rarely choose violence toward self or others.

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