Search Results
Showing results 1 to 10 of approximately 192.
(refine search)
Journal Article
Quantitative easing and money growth: potential for higher inflation?
The enormous quantity of excess reserves can create an even greater expansion in the money supply.>
Journal Article
The borrowed-reserves operating procedures: theory and evidence
Journal Article
Social security, saving, and wealth accumulation
Journal Article
Interest rate targets abandoned
Journal Article
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections?
When the government runs a deficit, it can borrow from the public?that is, it can create debt. Conversely, when the government runs a surplus, it can retire that debt. For the past three years, the federal government has recorded budget surpluses, and both the White House Office of Management and Budget and the Congressional Budget Office project that these surpluses will increase for at least the next decade. If these projections prove to be accurate, the $3.5 trillion of publicly held federal debt could be eliminated by around 2010. This article, which was written prior to the updated ...
Journal Article
Money in a theory of exchange
Major problems in monetary economics are to: introduce money into the economy in a way that explains how money arises endogenously; explain why money is preferred to other methods of exchange; and identify the welfare gains from using money. In this paper, Daniel L. Thornton develops a framework for assessing money's role in the economy and identifies the welfare gains associated with its use. In Thornton's framework, money is welfare enhancing not only because it reduces the resources necessary for exchange-thereby increasing both consumption and leisure-but, money further increases welfare ...
Journal Article
An extended series of divisia monetary aggregates