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Bibliographic Details

Title: Interest Rates, Prices and Liquidity: Lessons from the Financial Crisis (Macroeconomic Policy Making)
Publisher: Cambridge University Press
Publication Date: 2015
Language: English
ISBN 10: 1107480035
ISBN 13: 9781107480032
Binding: Soft cover
Condition: Good

About this title

Synopsis

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. However, very early on in the financial crisis interest rates effectively hit zero percent and so central banks had to resort to a wholly new set of largely untested instruments to restore order, including quantitative easing and the purchase of toxic financial assets. This book brings together contributions from economists working in academia, financial markets and central banks to assess the effectiveness of these policy instruments and explore what lessons have so far been learned.

About the Authors

Jagjit S. Chadha is Professor of Economics, University of Kent.

Sean Holly is Professional Fellow at Fitzwilliam College and Director of Research at the Faculty of Economics, University of Cambridge.

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Phatpocket Limited is a world class secondhand bookstore located in the Hertfordshire countryside in the United Kingdom. We specialize in textbooks across an enormous variety of subjects. We aim to provide a low cost source of high quality textbooks to the academic community. We also have a sizable collection of rare and collectible books. We are dedicated to providing our customers with the highest standard of customer service in the bookselling business.Phatpocket Limited is registered in England and Wales: No. 04924751.

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