In this new edition of his highly praised 1997 book, George Selgin argues that monetary policy should not have the goal of price stability, but should aim to allow prices to move in-line with movements in productivity (the so-called "productivity norm"). Radical and contrarian, this hugely original book remains a mini-classic.
Автор: Selgin Peter Название: Duplicity ISBN: 1947175432 ISBN-13(EAN): 9781947175433 Издательство: Неизвестно Цена: 2476.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Автор: Selgin Peter Название: By Cunning & Craft ISBN: 0985849533 ISBN-13(EAN): 9780985849535 Издательство: Неизвестно Цена: 2750.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Writing successful fiction is a balance between trusting one's own instincts and making the right conscious choices. In by Cunning & Craft, award-winning novelist and short-story writer Peter Selgin shows you how to combine the instinctive process of creation with sound technical ingenuity. With precise instruction and examples from classic and best-selling works, this authoritative guide helps you master all the essential fiction-wiring elements. Whether you're facing the blank pages of a first draft or trying to revise a completed manuscript, By Cunning & Craft provides you with the guidance you need to outfox common writing pitfalls and make sure your work isn't wanting in wit-or perfection.
In October 2008, as the U.S. economy plunged, the Federal Reserve began paying interest on banks' reserve balances. The resulting switch to a "floor system" of monetary control, in which changes in the interest rate on reserves, rather than reserve creation or destruction, became the Fed's chief tool for influencing economic activity, was to have far-reaching consequences--almost all of them regrettable.
Besides intensifying the downturn by causing banks to hoard reserves, the floor system all but destroyed the market for unsecured interbank loans that had been banks' ordinary "first resort" source of last-minute liquidity. By depriving the Fed's asset purchases of the ability to stimulate investment and spending, it also compelled the Fed to compensate by purchasing assets on an unprecedented scale. All of this resulted in a substantial increase in the Fed's role in allocating scarce credit. Finally, by severing the ordinary connection between the stance of monetary policy and the extent of the Fed's asset holdings, the floor system risks turning the Fed's balance sheet into a fiscal-policy playground.
Floored offers a matchless account of our post-crisis monetary system's history and shortcomings.
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