A primer on monetary and fiscal policy

Article Abstract:

It is argued that government debt issues represent mean different things at different periods and under different policy regimes. Thus fiscal policy is the hand maiden of monetary policy. A study investigated the limitations and possibilities of, and the appropriate objectives for, monetary policy within the existing pattern of institutional responsibilities. The analysis developed six propositions that govern the role of monetary policy and the economic limitations of what it can accomplish.

Administration of General Economic Programs, Intnl Economic Policy, Currency Stabilization Programs, Economic policy, National government, International economic relations, Fiscal policy, Federal government, Currency stabilization

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Monetary policy transmission, interest rate rules and inflation targeting in three transition countries

Article Abstract:

An analysis of the relationship between projected inflation, exchange range expectations, output gaps, real inflation and real interest and exchange rates is furnished from the perspective of transition countries like the Czech Republic, Hungary, and Poland. It may be recalled that these countries were reeling under inflation as high as 57% in 1991 before stabilizing to 8% in 2001. The policies and disinflation management in these countries is discussed.

Europe, Membership, Foreign exchange, Foreign exchange rates, Inflation (Finance), European Union, Inflation (Economics)

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Disequilibrium in the UK corporate loan market

Article Abstract:

The determinants of the demand for and supply of bank loans are analyzed, and the importance of the credit channel of monetary policy transmission is evaluated using a disequilibrium model, which is estimated on the panel data set of United Kingdom firms. The results are suggestive of the existence of a credit channel of monetary policy transmission.

United Kingdom, Market information - general, Economic aspects, Supply and demand, Bank loans

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