Asset inflation and monetary policy

Article Abstract:

Asset inflation is characterized by an increase in the prices of assets while output prices are relatively stable or on a decline. In the event of asset inflation, international coordination of monetary policy is an observable trend. For instance, in 1989, when Japan was at the worst phase of the recession, the Bank of Japan lowered interest rates and the US and German discount rates also declined at the same time. However, most mainstream economists believe that monetary policy should be aimed at the stability of the general price level rather than zeroing on asset prices.

Interest rates, Asset-backed securities, Asset backed securities

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What went wrong? The evolution of the IMF 1941-1961(International Monetary Fund)

Article Abstract:

The 1948-1961 policy implementation of International Monetary Fund (IMF) and General Agreement on Tariffs and Trade (GATT) on exchange rates, liquidity and observance of international trade rules was below the expectation of Bretton Woods in 1944. IMF was also seen to involve itself less with its task when the Organization of European Economic Cooperation (OEEC) and European Payments Union (EPU) showed accomplishments in 1950. IMF was not even part of the modifications of EPU's clearing arrangements, credit facilities and liberalization of trade.

Intnl Economic Policy, International Monetary Fund, International economic relations

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European Monetary Union: an old Keynesian guide to the issues

Article Abstract:

Long-term effects of the feasibility, effectiveness and design of a sovereign monetary policy for all European nations must be carefully studied to promote the overall European economy. However, it should also be considered that the sovereign monetary policy may not anymore be feasible given the present global financial and political settings. Smaller unions might also be preferable since unions such as Benelux countries and Germany or the UK and Ireland are already optimum currency areas, which a monetary policy requires.

Exchange Rates, Currency Stabilization Programs, Europe, Economic policy, European Monetary System, Currency stabilization

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