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Ein Drei-Punkte-Plan zur Reformierung der Geldpolitik


  • 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.

Suggested Citation

  • Malte Krueger, 2013. "Ein Drei-Punkte-Plan zur Reformierung der Geldpolitik," Credit and Capital Markets, Credit and Capital Markets, vol. 46(4), pages 421-437.
  • Handle: RePEc:kuk:journl:v:46:y:2013:i:4:p:421-437

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    More about this item


    Monetary Systems; Monetary Policy; Central Banks and their policies;

    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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