Indirect Convertibility and Quasi-Futures Contracts: Two Non-Operational Schemes for Automatic Stabilisation of the Price Level?
The paper examines two proposals for automatic stabilization of the price level based on indirect convertibility and something called a 'quasi-futures contacts'. These two schemes represent attempts to rendre operational ideas implicit in the Black (1970) Fama (1980) and Hall (1982) vision of the monetary system.
|Date of creation:||1998|
|Date of revision:|
|Contact details of provider:|| Postal: Adelaide SA 5005|
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- Sumner, Scott, 1995. "The Impact of Futures Price Targeting on the Precision and Credibility of Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(1), pages 89-106, February.
- Fama, Eugene F., 1980. "Banking in the theory of finance," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 39-57, January.
- Schnadt, Norbert & Whittaker, John, 1993. "Inflation-Proof Currency? The Feasibility of Variable Commodity Standards," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(2), pages 214-21, May.
- Tyler Cowen & Randall S. Kroszner, 1994. "The new monetary economics," Chapters, in: The Elgar Companion to Austrian Economics, chapter 86 Edward Elgar Publishing.
- Greenfield, Robert L & Woolsey, W William & Yeager, Leland B, 1995. "Is Indirect Convertibility Impossible? Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(1), pages 293-97, February.
- Cowen, Tyler, 1997. "Should Central Banks Target CPI Futures?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(3), pages 275-85, August.
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