In this book Tymoigne argues that financial stability should be the sole goal of central banks and suggests an alternative to the inflation targeting framework showing how interest-rate policy can help to solve some of the problems faced by central bankers.
In this book Tymoigne argues that financial stability should be the sole goal of central banks and suggests an alternative to the inflation targeting framework showing how interest-rate policy can help to solve some of the problems faced by central bankers.
Eric Tymoigne is Assistant Professor of Economics at California State University Fresno.
Inhaltsangabe
1 Introduction 2 Central banking asset prices and financial fragility 3 Asset-price theories and central banking 4 Against the instrumental use of interest rates 5 An analysis of financial fragility in the Minskian tradition 6 Financial matters in the decisions of the FOMC 7 Conclusion: A New Role for the Central Bank Appendix 1: Own-Rates of Interest Real Rates of Interest and Money Rates of Interest Appendix 2: The Aggregate Liquidity Preference Ratio with K Assets Appendix 3: Immunization Procedure with Consols Appendix 4: Econometric Analysis of Inflation and Interest Rates Appendix 5: Financial Disturbances and Financial Crises in the U.S
1 Introduction 2 Central banking asset prices and financial fragility 3 Asset-price theories and central banking 4 Against the instrumental use of interest rates 5 An analysis of financial fragility in the Minskian tradition 6 Financial matters in the decisions of the FOMC 7 Conclusion: A New Role for the Central Bank Appendix 1: Own-Rates of Interest Real Rates of Interest and Money Rates of Interest Appendix 2: The Aggregate Liquidity Preference Ratio with K Assets Appendix 3: Immunization Procedure with Consols Appendix 4: Econometric Analysis of Inflation and Interest Rates Appendix 5: Financial Disturbances and Financial Crises in the U.S
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