A model of the Federal Reserve Act under the international gold standard system
Article Abstract:
Federal Reserve Act's external policy goal is based on international gold standard, and its domestic policy is based on Real Bills Doctrine. The two-country model of Freeman shows that efficiency of equilibrium can be enhanced if central banks supply fiat money elastically both in the domestic credit market and foreign exchange market.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
Technology shocks and monetary policy: assessing the Fed's performance
Article Abstract:
The Fed's systematic response to technology shocks is described. This response is evaluated by simple monetary policy rule.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
Supply-side reforms and learning dynamics
Article Abstract:
Implication of a supply side reform in the form of a capital tax cut on adaptive response is examined.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2006
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Stages of growth in economic development. The economic case for international labour standards
- Abstracts: Sectoral and regional analysis of the consequences of Russia's accession to the World Trade Organization: assessments of costs and benefits
- Abstracts: Welfare costs of sticky wages when effort can respond. Optimal fiscal policy under multiple equilibria. Should fiscal policy be different in a non-competitive framework?