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170321s2017 enk o 000 0 eng d |
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20241119143458.7 |
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|a (OCoLC)978248609
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|a 018911577
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|a 019129956
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|a 9781137515926
|q (electronic bk.)
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|a 1137515929
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|a 9783319404639
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|a com.springer.onix.9781137515926
|b Springer Nature
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|a HB172.5
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|a MAIN
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| 100 |
1 |
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|a Barwell, Richard,
|e author.
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| 245 |
1 |
0 |
|a Macroeconomic policy after the crash :
|b issues in monetary and fiscal policy /
|c Richard Barwell.
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| 264 |
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1 |
|a London :
|b Palgrave Macmillan,
|c 2017.
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| 300 |
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|a 1 online resource
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| 336 |
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|a text
|b txt
|2 rdacontent
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| 337 |
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|a computer
|b c
|2 rdamedia
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| 338 |
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|a online resource
|b cr
|2 rdacarrier
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| 588 |
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|a Online resource; title from PDF title page (EBSCO, viewed March 23, 2017).
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|a Preface; Contents; 1: Introduction; Part I: Monetary Policy; 2: The Lower Bound: To€Zero and€Beyond; 2.1 How Central Banks Set Interest Rates; 2.1.1 What Is Money?; 2.1.2 The Demand for€Central Bank Reserves; 2.1.3 Setting Interest Rates; 2.1.4 An Aside on€Crushing the€Corridor; 2.2 The Transmission Mechanism of€Monetary Policy; 2.2.1 Financial Markets; 2.2.2 Demand; 2.2.2.1 Households; 2.2.2.2 Companies; 2.2.2.3 Demand Overseas; 2.2.3 Inflation; 2.2.4 The Long and€Variable Lags of€Monetary Policy; 2.3 The Near-Zero Lower Bound and€How to€Avoid Hitting It.
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| 505 |
8 |
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|a 2.3.1 The Location of€the€Lower Bound Near Zero2.3.2 The Policy Problem; 2.3.3 Learning to€Live with€the€Problem; 2.4 The Race to€the€Bottom; 2.5 The BoE Stops at€0.5 %: The€Endowment Effect and€the€Back-Book Effect; 2.6 The ECB Stops at€1 %: Excess Reserves and€the€Deposit Rate; 2.7 Continental Europe Goes Sub-Zero: Negative Interest Rates; 2.8 Negative Rates and€Bank Profitability; 2.9 Dealing with€the€Lower Bound; 2.9.1 Reducing the€Likelihood of€Hitting the€Lower Bound; 2.9.2 Removing the€Lower Bound; References; 3: Quantitative Easing: Bond Buying to€the€Rescue.
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|a 3.1 The Bank Rate Shortfall3.2 The Modalities of€BoE-QE: What the€Bank Bought, When and€Why; 3.3 A Taxonomy of€Asset Purchase Programmes; 3.4 Do Believe the€Hype: The€Transmission Mechanism of€Asset Purchases; 3.4.1 Irrelevance Propositions for€Asset Purchases; 3.4.2 Signalling Effects and€the€Most Expensive Communication Exercise in€History; 3.4.2.1 Signalling as€a€Form of€Stimulus; 3.4.2.2 The Counterproductive Signal; 3.4.3 Imperfect Substitutability, Preferred Habitats and€Bang for€Your Buck, Pound, Yen and€Euro.
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| 505 |
8 |
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|a 3.4.4 Portfolio Rebalancing and€Liquidity Risk Premia: An€Aside on€the€Mechanics of€QE3.4.5 Transmission via the€Banking Sector; 3.4.6 Fear and€Uncertainty and€the€Discrete QE Multiplier; 3.5 Evidence on€the€Impact of€QE; 3.5.1 The Macroeconomic Impact of€QE and€the€Counterfactual Problem; 3.5.2 The Impact of€Asset Purchases on€Bond Yields; 3.5.2.1 The Initial Announcements; 3.5.2.2 News on€the€Location of€Bond Buying; 3.5.2.3 The Problem with€Event Studies; 3.5.3 Following the€Money; 3.6 The Distributional Consequences of€QE; 3.7 Helicopter Drops; References.
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| 505 |
8 |
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|a 4: Deflation: The€Dog That Didn't Bark4.1 The Curious Incident of€Consistently Above€Target Inflation in€a€Post-crisis Depression; 4.2 Cautionary Tales of€Deflation: The€Lost Decade and€the€Great Depression; 4.3 Monetary Policy in€the€Era of€PLOGs; 4.4 Output Gap Stories; 4.4.1 The Data on€Demand Are Wrong; 4.4.2 The Output Gap Was€More Positive than€We€Thought Before€the€Crisis; 4.4.3 The Collapse in€Supply; 4.5 Slope Stories; 4.5.1 Structural Change and€the€Slope; 4.5.2 The Cost Channel of€Monetary Policy and€the€Credit Crunch.
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| 520 |
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|a This book reviews the key policy debates during the post-crash era, describing the issues that policymakers grappled with, the decisions that they took and the details of the policy instruments that were created. Focusing specifically on issues in monetary and fiscal policy, chapters demonstrate that very little that was done during this period conformed to the simple textbook treatment of macroeconomic policy: central banks cutting policy rates or finance ministers cutting the rate of income tax. The author guides the reader through the revolution in the conduct of macroeconomic policy in an engaging and approachable manner, and illuminates the key innovations in the toolkit and themes in the debate over past years with great detail, from negative rates to quantitative easing, and from austerity versus financial repression, restructuring and default to productivity puzzles and deflation.
|
| 650 |
|
0 |
|a Macroeconomics.
|0 http://id.loc.gov/authorities/subjects/sh85079443
|
| 650 |
|
0 |
|a Economic policy.
|0 http://id.loc.gov/authorities/subjects/sh85040837
|
| 650 |
|
6 |
|a Macroéconomie.
|
| 650 |
|
6 |
|a Politique économique.
|
| 650 |
|
7 |
|a Political economy.
|2 bicssc
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| 650 |
|
7 |
|a Public administration.
|2 bicssc
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| 650 |
|
7 |
|a BUSINESS & ECONOMICS
|x Economics
|x General.
|2 bisacsh
|
| 650 |
|
7 |
|a BUSINESS & ECONOMICS
|x Reference.
|2 bisacsh
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| 650 |
|
7 |
|a Economic policy.
|2 fast
|0 (OCoLC)fst00902025
|
| 650 |
|
7 |
|a Macroeconomics.
|2 fast
|0 (OCoLC)fst01005221
|
| 856 |
4 |
0 |
|u https://link.springer.com/10.1057/978-1-137-51592-6
|y Springer Nature
|
| 929 |
|
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|a oclccm
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| 999 |
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|i d113f4d5-308d-448b-9990-86e1d810625b
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| 928 |
|
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|t Library of Congress classification
|a HB172.5
|l Online
|c UC-FullText
|u https://link.springer.com/10.1057/978-1-137-51592-6
|z Springer Nature
|g ebooks
|i 13723396
|
