Éric Tymoigne

Central Banking, Asset Prices and Financial Fragility (eBook, ePUB)

• Format: ePub

Produktbeschreibung

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.

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Produktdetails

• Verlag: Taylor & Francis
• Seitenzahl: 336
• Erscheinungstermin: 21. November 2008
• Englisch
• ISBN-13: 9781135976729
• Artikelnr.: 38258886

Autorenporträt

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