The economics of money, banking, and financial markets

xxx

 

Contents in Detail

FYI  The Political Business Cycle and Richard Nixon  592

The Case for Discretion ...................................................................................................... 592

Constrained Discretion ....................................................................................................... 593

Global  The Demise of Monetary Targeting in Switzerland  593

The Role of Credibility and a Nominal Anchor ..................................................................594

Benefits of a Credible Nominal Anchor ............................................................................... 594

Credibility and Aggregate Demand Shocks ......................................................................... 595

Credibility and Aggregate Supply Shocks ........................................................................... 597

APPLICATION

  A Tale of Three Oil Price Shocks ......................................................598

Credibility and Anti-Inflation Policy ................................................................................... 600

Global  Ending the Bolivian Hyperinflation: A Successful Anti-Inflation Program  601

APPLICATION

  Credibility and the Reagan Budget Deficits ......................................602

Approaches to Establishing Central Bank Credibility ........................................................603

Nominal GDP Targeting ..................................................................................................... 603