Interest Rates, Prices and Liquidity (English, Jagjit S. Chadha | Sean Holly)

About the Book

Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long as we used short-term nominal interest rates as the instrument of policy because money and other credit markets would clear at the given policy rate. Howev…

ISBN: 9781107014732