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Book/Printed Material A small corner of intertemporal public finance - new developments in monetary economics 2 ghosts, 2 eccentricities, a fallacy, a mirage and a mythos

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Title

  • A small corner of intertemporal public finance - new developments in monetary economics 2 ghosts, 2 eccentricities, a fallacy, a mirage and a mythos

Summary

  • "Monetary theory and policy are part of intertemporal public finance. The lecture reviews some interesting recent developments. The two ghosts are the venerable liquidity trap and the Pigou effect or real balance effect. The eccentricities are negative nominal interest rates and the helicopter drop of base money - two unconventional policies for stimulating consumer demand even when nominal interest rates, short and long, present and future, are at their zero lower bounds. The fallacy is the so-called Fiscal Theory of the Price Level, a logically in-consistent theory of the link between the government budget and the general price level. The mirage is the prediction that financial deregulation and technical change in the payments and settlements technology (e-money etc.), will cause monetary policy to lose its capacity to influence even nominal economic variables. Mythos refers to the independent central bank"--National Bureau of Economic Research web site.

Names

  • Buiter, Willem H., 1949-
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2004.

Headings

  • -  Interest
  • -  Liquidity (Economics)
  • -  Monetary policy

Notes

  • -  Title from PDF file as viewed on 1/12/2005.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2005615151

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

Buiter, Willem H, and National Bureau Of Economic Research. A Small Corner of Intertemporal Public Finance - New Developments in Monetary Economics 2 Ghosts, 2 Eccentricities, a Fallacy, a Mirage and a Mythos. Cambridge, MA: National Bureau of Economic Research, 2004. Pdf. https://aj.sunback.homes/item/2005615151/.

APA citation style:

Buiter, W. H. & National Bureau Of Economic Research. (2004) A Small Corner of Intertemporal Public Finance - New Developments in Monetary Economics 2 Ghosts, 2 Eccentricities, a Fallacy, a Mirage and a Mythos. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://aj.sunback.homes/item/2005615151/.

MLA citation style:

Buiter, Willem H, and National Bureau Of Economic Research. A Small Corner of Intertemporal Public Finance - New Developments in Monetary Economics 2 Ghosts, 2 Eccentricities, a Fallacy, a Mirage and a Mythos. Cambridge, MA: National Bureau of Economic Research, 2004. Pdf. Retrieved from the Library of Congress, <aj.sunback.homes/item/2005615151/>.