Readings in Money and Banking |
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Page 190
George A. Selgin. 12. The Natural Rate of Unemployment : Concepts and Issues Stuart E. Weiner The monetarist notion of a " natural " rate of unemployment is closely related to Wicksell's idea of a " natural " rate of interest . Both ...
George A. Selgin. 12. The Natural Rate of Unemployment : Concepts and Issues Stuart E. Weiner The monetarist notion of a " natural " rate of unemployment is closely related to Wicksell's idea of a " natural " rate of interest . Both ...
Page 198
... natural rate is secular demand shifts , that is , fundamental changes in the composition of demand for domestically produced goods and services . Some authors believe , for example , that the rise in the U.S. natural rate since the ...
... natural rate is secular demand shifts , that is , fundamental changes in the composition of demand for domestically produced goods and services . Some authors believe , for example , that the rise in the U.S. natural rate since the ...
Page 199
... natural rate will be quite rapid ; models incorporating " rational expectations " and perfect wage and price flexibility yield such a result . Others . believe the return to the natural rate will be less rapid : models rejecting ...
... natural rate will be quite rapid ; models incorporating " rational expectations " and perfect wage and price flexibility yield such a result . Others . believe the return to the natural rate will be less rapid : models rejecting ...
Contents
Why Bother? | 3 |
The Theory of Money | 12 |
The Evolution of | 23 |
Copyright | |
18 other sections not shown
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assets balance bank failures bank notes Bank of England bank's bankers banking crises banking panics banking system bonds borrow branch banking capital cash central bank changes charter circulation clearinghouse commercial banks commodity money costs countries crisis currency demand deposits deposit insurance depositors discount dollar economic economists effect excess demand exchange Federal Reserve Bank Federal Reserve System fractional-reserve banking free banking funds George Selgin gold standard growth rate History income increase inflation inside money institutions interest rates investment last resort lender of last liabilities loans losses ment Milton Friedman monetary authority monetary policy money supply national banks natural rate note issue noteholders operations payments percent period price level price of gold production profits purchasing power rate of interest real output real rate redeem regulation reserve requirements restrictions rise rule securities stability theory thrifts tion trade trend United value of money velocity wages wildcat banking York