Reflections on the current fashion for central bank independence

Article Abstract:

The argument about the time-inconsistency literature that not only seriously confuses the substance of the rules vs discretion debate, but also posits an implausible view of monetary policy is presented. Most worryingly, the inflationary bias featured prominently in the time-inconsistency literature has encouraged the development of a dangerously one-sided approach to central bank independence that entirely ignores the potential risks involved in maximizing central bankers' latitude for discretion.

United Kingdom, Management dynamics, Management, Central banks, Monetary policy, Company business management

---

Some reflections on Keynes's 'finance motive' for the demand for money

Article Abstract:

There is lack of any inherent difference between the theory of financial intermediation and the theory of liquidity preferences. Both are similar in dynamic contexts. Institutional investments bear a direct relationship with the availability of liquidity. Savings have a negligible effect on investments. Keynesian economics explain the finance motives with these perspectives. The debate over the validity of Keynes theory is irrelevant.

Usage, Evaluation, Economic aspects, Investments, Keynesian economics

---

The loanable funds fallacy: exercises in the analysis of disequilibrium

Article Abstract:

Research is presented concerning the influence of alterations in time preferences and technology which instantaneously affect interest rates. The application of the analysis of disequilibrium to the loanable funds theory is discussed.

Interest rates, Loans, Financial intermediation

Similar abstracts:

• Abstracts: The effects of rate regulation on demand for supplemental health insurance. Simultaneous model of innovation, secrecy, and patent policy
• Abstracts: A guide to the documentation of the European Union
• Abstracts: Repeated moral hazard and one-sided commitment. A recursive formulation for repeated agency with history dependence
• Abstracts: The Yen as an international currency. Can interest rate policy be independent? Reviewing Bank of England independence: the report of the Bank of England Commission
• Abstracts: Subjective probability under additive aggregation of conditional preferences. Characterizing common priors in the form of posteriors

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.