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An analogy has been made between the collapse of the Bretton Woods system in 1971 and the recent Eurozone crisis. The … (analogous to Germany today).However Bretton Woods is very different from the Eurozone in many dimensions. An even better analogy … than BWS is a comparison of the clearing mechanism in the U.S.--The Gold Settlement account-- with the Target payments …
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An analogy has been made between the collapse of the Bretton Woods system in 1971 and the recent Eurozone crisis. The …However Bretton Woods is very different from the Eurozone in many dimensions. An even better analogy than BWS is a … comparison of the clearing mechanism in the U.S.--The Gold Settlement account-- with the Target payments mechanism for the …
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Over the last thirty years or so the developments in the area of monetary and macroeconomic policies have been quite substantial. Within the new consensus macroeconomics (NCM), monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of...
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Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...
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This book provides a much-needed re-examination of monetary and fiscal policies, their application in the real world and their potential for macroeconomic policy in the 21st century. It provides a detailed discussion and critique of the "new consensus" in macroeconomics along with the monetary...
Persistent link: https://www.econbiz.de/10011851970