MONETARY POLICY

Jonathan E Leightner

Chapter 3 in The Limits of Fiscal, Monetary, and Trade Policies:International Comparisons and Solutions, 2014, pp 23-34 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Correctly using traditional statistical techniques to analyze the effectiveness of changes in monetary, fiscal, and trade policy in today's world would require the construction and justification of a worldwide macroeconomic model that included every force that can affect gross domestic product (GDP) and all the ways that nations are inter-connected, especially through trade and financial flows. Such a model would have to capture all changes in technologies, in resource endowments, and in relative prices (including interest rates and exchange rates). Creating such a model is not possible…

Keywords: Crisis; Government Policy; Glut Of Savings; Surplus Of Savings; Consumption; Fiscal Policy; Monetary Policy; Trade Policy; Exchange Rate Policy; Income Distribution; Austerity; Speculative Bubbles; Internal Devaluation; Keynesian Multipliers; Quantitative Easing; Currency War; USA; UK; China; Japan; Russia; Brazil; Europe; Greece; Ireland; Italy; Portugal; Spain (search for similar items in EconPapers)
Date: 2014
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