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Ein Drei-Punkte-Plan zur Reformierung der Geldpolitik

Listed author(s):
  • Malte Krueger

    (Hochschule Aschaffenburg, Fakult├Ąt Wirtschaft und Recht, W├╝rzburger Str. 45, D-63743 Aschaffenburg)

Prominent 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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Article provided by Credit and Capital Markets in its journal Credit and Capital Markets.

Volume (Year): 46 (2013)
Issue (Month): 4 ()
Pages: 421-437

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Handle: RePEc:kuk:journl:v:46:y:2013:i:4:p:421-437
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