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Politica monetara în sistemele financiare moderne
[Monetary policy in modern financial systems]

Author

Listed:
  • Paun, Cristian

Abstract

Monetary policy is one of the most sensitive problems in the modern financial systems. Money production of central banks and commercial banks generates a lot of problems in the prices mechanism, structure of production and is the major source of error in entrepreneurial decision. This paper discuss the major problems with modern monetary policies regarding: concept and function of money as a medium of exchange, (non)neutrality of money, independence of central banks, ineffectiveness of some specific monetary tools like inflation targeting is. There are a lot of mistakes produced from a long time that influenced and continue to influence the (in)stability of financial systems.

Suggested Citation

  • Paun, Cristian, 2012. "Politica monetara în sistemele financiare moderne
    [Monetary policy in modern financial systems]
    ," MPRA Paper 37304, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:37304
    as

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    File URL: https://mpra.ub.uni-muenchen.de/37304/1/MPRA_paper_37304.pdf
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    References listed on IDEAS

    as
    1. Friedman, Milton & Schwartz, Anna J, 1969. "The Definition of Money: Net Wealth and Neutrality as Criteria," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 1-14, February.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Monetary policy; Central Banks; fiat money; fractional reserve system;

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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