Ein Drei-Punkte-Plan zur Reformierung der Geldpolitik
AbstractProminent economists such as John B. Taylor and William White have argued that monetary policy mistakes have triggered the current financial crisis. Central banks, however, seem to be mainly concerned with trouble-shooting and the design of new rules for banking supervision. Partly drawing on the discussion after the Great Depression, this paper proposes a new strategy for monetary policy with three main elements: a target for the growth of nominal GDP, non-bank access to central bank credit and the termination of direct and indirect monetization of public debt.
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Bibliographic InfoArticle provided by Credit and Capital Markets in its journal Credit and Capital Markets.
Volume (Year): 46 (2013)
Issue (Month): 4 ()
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Web page: http://www.credit-and-capital-markets.de/
Monetary Systems; Monetary Policy; Central Banks and their policies;
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
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