Presented to the Faculty of Economics and Social Sciences of the University of Fribourg (Switzerland) in fulfillment of the requirements for the degree of Doctor of Economics and Social Sciences
Số trang: 152
Loại file: pdf
Dung lượng: 902.22 KB
Lượt xem: 7
Lượt tải: 0
Xem trước 10 trang đầu tiên của tài liệu này:
Thông tin tài liệu:
When there are frictions in setting nominal wages, however, ariseintherealwagerequiresthatinflationbeallowedtodriftdown.Theinflationtargeting central bank, seeing this drift down in inflation, cuts the interest rate tokeep inflation on target. In our model, this cut in the interest rate triggers a creditboom and makes the economic expansion much bigger than is socially optimal. In asituation like this, a central bank that ‘leans against the wind’ when credit expandssharply would raise welfare by reducing the magnitude of the boom-bust cycle....
Nội dung trích xuất từ tài liệu:
Presented to the Faculty of Economics and Social Sciences of the University of Fribourg (Switzerland) in fulfillment of the requirements for the degree of Doctor of Economics and Social Sciences
Nội dung trích xuất từ tài liệu:
Presented to the Faculty of Economics and Social Sciences of the University of Fribourg (Switzerland) in fulfillment of the requirements for the degree of Doctor of Economics and Social Sciences
Tìm kiếm theo từ khóa liên quan:
Saliva Testing Molecular Epidemiology HAART and Causes Infected Children Cannabinoids – Influence Supplementary TherapyGợi ý tài liệu liên quan:
-
A Key Management Architecture for Digital Cinema
0 trang 28 0 0 -
Psychological Science: Attention and the Evolution of Hollywood Film
9 trang 25 0 0 -
82 trang 19 0 0
-
Ebook Rabies, scientific basis of the disease and its management (4th edition): Part 1
362 trang 16 0 0 -
My Botnet is Bigger than Yours (Maybe, Better than Yours) : why size estimates remain challenging
8 trang 15 0 0 -
Reproductive cloning ethical and social issues
12 trang 13 0 0 -
VALUE-AT-RISK IN MUTUAL FUNDS WHICH METHODOLOGY OF ESTIMATION
18 trang 11 0 0 -
What You Need To Know About - Cancer of the Esophagus
51 trang 10 0 0 -
Economic Freedom of the World 2012
322 trang 9 0 0 -
367 trang 8 0 0