Monetary Policy Archives - Page 2 of 7

The Prudence Principle: a new rule for fiscal policy

23rd August 2019

Helicopter Money, Monetary Policy, Money in Europe, Theory & Other Problems

Should the government run a budget deficit or a budget surplus? What size should the deficit or surplus be? Devising a rule which allows the public to assess the integrity of government is a major challenge...

Cyclical sovereignty

Eric Lonergan

26th July 2019

Media, Monetary Policy, Money in Europe

2

Only two of the world’s major economic blocks appear to have cyclical autonomy - China and the United States. For many decades now, Japan’s ability to stimulate domestic demand has been trivial relative to cycl...

Dual interest rates always work

Eric Lonergan

5th June 2019

Helicopter Money, Monetary Policy, Money in Europe

8

The future of monetary policy - Dual interest rates The significance of dual interest rates remains under-appreciated. The European Central Bank, Bank of Japan, and the Bank of England’s facilities are by fa...

Presentation on dual interest rates

Eric Lonergan

16th May 2019

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe

PM Europe roundtable...

It’s time for the ECB to use its monetary power

Eric Lonergan

28th March 2019

Helicopter Money, Monetary Policy, Money in Europe

1

Eurozone growth has stalled and inflation is below the ECB’s definition of price stability. As the recent actions of ECB make clear, further monetary easing is necessary for the ECB to fulfil its mandate. Un...

A reply to Stephanie Kelton

Eric Lonergan

19th March 2019

Definitions of Money, Monetary Policy, Theory & Other Problems

21

The crux of the MMT debate This recent article by Stephanie Kelton is crystal clear and reveals the crux of the ‘MMT debate’. It’s all about central bank independence. Also listen to this INET interview wi...

Redesigning monetary policy

Eric Lonergan

6th March 2019

Helicopter Money, Monetary Policy, Money in Europe

1

We need a modern monetary policy (MMP). Policy needs redesigning for three fundamental reasons: Firstly, the mental models for thinking about how the macro-economy in the developed world works have been brok...

Stock prices & r*

Eric Lonergan

28th February 2019

Finance & Asset Pricing, Monetary Policy, Theory & Other Problems

2

Economists pay insufficient attention to asset prices. Ask most economists what the relevance of the bond equity correlation is for fiscal policy and they will be baffled. You’ll be lucky if they know what you’...

Functional finance and fiscal rules – a synthesis (Part II)

Eric Lonergan

5th November 2018

Definitions of Money, Helicopter Money, Monetary Policy, Theory & Other Problems

16

Introduction A curious argument has broken out over the Labour’s proposed fiscal rule. Some advocates of functional finance, in particular, have been vociferous in their criticisms. There is scope for a consid...

The Prudence Principle: a new rule for fiscal policy

Cyclical sovereignty

Dual interest rates always work

Presentation on dual interest rates

It’s time for the ECB to use its monetary power

A reply to Stephanie Kelton

Redesigning monetary policy

Stock prices & r*

More on post-interest rate monetary policy

Functional finance and fiscal rules – a synthesis (Part II)

Reviews of Eric’s book

CNBC: market sell-off is ‘noise’

Monetary policy & babysitting: why rates are so low, and ‘what’s next?’