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1. Why Another Book about Money? -- 2. Imagine a World Without Money -- 3. A Brief History of Money -- 4. Saving … 2007-2009 and the Great Recession -- 7. Economic Growth and the Role of Money -- 8. Money in an Interconnected World -- 9 … specialization, in economic growth, and in an interconnected world. Throughout the book, he points out the pitfalls of fallacious …
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: Central Banks and the World Economy (Mervyn Allister King) -- Chapter 4. How Elastic Money Should Be: Flexible Monetary Policy …In light of the pickup of inflation at the end of 2021 and monetary policy shifts by the world's major central banks …
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Different long-run rates of growth of money supply are eventually reflected in different rates of inflation. Tobin studied this in a simple descriptive model with aggregate saving depending only on current income. It was found that money growth was associated with higher capital stock and output...
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-dominated world, the central bank’s only role would be to accommodate the financial needs of the Treasury, determined by the …
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Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the reputation of central banks. Thus, central banks should not...
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