PSN: Other Monetary Policy (Topic)最新文献_第2页

Sectoral Output Effects of Monetary Policy: Do Sticky Prices Matter? 货币政策的部门产出效应:粘性价格重要吗?

PSN: Other Monetary Policy (Topic) Pub Date : 2020-10-01 DOI: 10.2139/ssrn.3703656

L. Henkel

引用次数: 4

Uncertainty, Long-Run, and Monetary Policy Risks in a Two-Country Macro Model 两国宏观模型中的不确定性、长期和货币政策风险

PSN: Other Monetary Policy (Topic) Pub Date : 2020-09-01 DOI: 10.3386/W27844

Kimberly A. Berg, Nelson C. Mark

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引用次数: 1

The International Spillover Effects of US Monetary Policy Uncertainty 美国货币政策不确定性的国际溢出效应

PSN: Other Monetary Policy (Topic) Pub Date : 2020-04-20 DOI: 10.2139/ssrn.3580933

Aeimit Lakdawala, Timothy Moreland, M. Schaffer

引用次数: 18

A Post Keynesian Review of Modern Monetary Theory 后凯恩斯主义对现代货币理论的回顾

PSN: Other Monetary Policy (Topic) Pub Date : 2020-04-11 DOI: 10.2139/ssrn.3573406

Narciso Túñez Area

引用次数: 1

Equitable Monetary Relief Under the FTC Act: An Opportunity for a Marginal Improvement 联邦贸易委员会法案下的公平货币救济:边际改进的机会

PSN: Other Monetary Policy (Topic) Pub Date : 2020-03-03 DOI: 10.2139/ssrn.3549899

James C. Cooper, Bruce H. Kobayashi

{"title":"Equitable Monetary Relief Under the FTC Act: An Opportunity for a Marginal Improvement","authors":"James C. Cooper, Bruce H. Kobayashi","doi":"10.2139/ssrn.3549899","DOIUrl":"https://doi.org/10.2139/ssrn.3549899","url":null,"abstract":"Optimal remedies should be grounded in consumer harm. The caselaw interpreting the FTC's ability to obtain equitable monetary relief, however, has strayed far from this benchmark. Rather than requiring the FTC to show the marginal impact of deception, courts presume that everyone exposed to deception is harmed based on the fiction that the FTC has proven materiality. This approach is likely to overstate consumer harm in most circumstances involving a legitimate product, which will reduce the amount of beneficial marketplace information available to consumers. Several cases that challenge the FTC's legal authority to use 13(b) to obtain equitable monetary relief are awaiting certiorari determinations, which have led some to call for Congressional intervention to fix the statutory problem. Regardless of the outcome of this process, we see this turn of events as an opportunity for the FTC to recalibrate its consumer protection remedies to more closely mirror consumer harm. It should do so by focusing on the marginal impact of deception, a task that could be accomplished through Congressional action or on the FTC's own initiative. Regardless of the path, this marginal improvement would be an important one for consumers.","PeriodicalId":355111,"journal":{"name":"PSN: Other Monetary Policy (Topic)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116372248","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Macroprudential and Monetary Policies with an Imperfectly Competitive Banking Sector 银行业不完全竞争下的宏观审慎和货币政策

PSN: Other Monetary Policy (Topic) Pub Date : 2020-02-27 DOI: 10.2139/ssrn.3545519

Nimrod Segev

引用次数: 0

Monetary Policy Shocks and Skill Differences in the U.S. Labor Market 货币政策冲击和美国劳动力市场的技能差异

PSN: Other Monetary Policy (Topic) Pub Date : 2020-01-29 DOI: 10.2139/ssrn.3527650

Pritha Chaudhuri

引用次数: 0

A Monetary Analysis of the Liquidity Trap with an Application to the USA 流动性陷阱的货币分析——以美国为例

PSN: Other Monetary Policy (Topic) Pub Date : 2019-12-27 DOI: 10.5709/CE.1897-9254.325

João Braz Pinto, J. Andrade

{"title":"A Monetary Analysis of the Liquidity Trap with an Application to the USA","authors":"João Braz Pinto, J. Andrade","doi":"10.5709/CE.1897-9254.325","DOIUrl":"https://doi.org/10.5709/CE.1897-9254.325","url":null,"abstract":"Keynes emphasized a specific situation in which the liquidity preference becomes absolute, leading to monetary policy ineffectiveness when nominal interest approaches the zero-bound rate. This situation was termed a liquidity trap (LT) by Robertson and was popularized by the Hicks- Hansen framework (IS-LM). Early macroeconomic textbooks characterized the LT as the Keynesian case against the classical one. The “lowflation” environment experienced in the USA and Europe again brought the LT to the forefront. The quantitative easing monetary policy was introduced in Japan and better applied in the USA and EMU as a solution to overcome the LT. The macroeconomic mainstream contends that the LT is essentially a money demand problem, whereas we propose another interpretation; the current situation should be interpreted as a “banking problem” that impedes the transformation of the monetary base into money supply. To prove our thesis, we study the behavior of the USA money multiplier and the income velocity of money by comparing an earlier period with the 2007-2008 crisis period. Using a VAR and a VECM model, we compare the normal situation of monetary policy efficiency with the situation of LT monetary policy inefficiency. We prove that the LT focus should not be placed on the demand for money but rather on the behavior of the money supply – more specifically, on banks’ behavior leading to the transformation of the monetary base into the money supply.","PeriodicalId":355111,"journal":{"name":"PSN: Other Monetary Policy (Topic)","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130905466","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Importance of Production Networks and Sectoral Heterogeneity for Monetary Policy 生产网络和部门异质性对货币政策的重要性

PSN: Other Monetary Policy (Topic) Pub Date : 2019-12-01 DOI: 10.2139/ssrn.3499902

Nicolas Castro

引用次数: 9

The Global Effects of U.S. Monetary Policy on Equity and Bond Markets: A Spatial Panel Data Model Approach 美国货币政策对股票和债券市场的全球影响:一个空间面板数据模型方法

PSN: Other Monetary Policy (Topic) Pub Date : 2019-12-01 DOI: 10.2139/ssrn.3508958

Lina Lu, Shaowen Luo

引用次数: 7