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Books > Business & Economics > Finance & accounting > Finance
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Interest Rates, Prices and Liquidity - Lessons from the Financial Crisis (Paperback)
Loot Price: R1,354
Discovery Miles 13 540
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Interest Rates, Prices and Liquidity - Lessons from the Financial Crisis (Paperback)
Series: Macroeconomic Policy Making
Expected to ship within 10 - 15 working days
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Total price: R1,374
Discovery Miles: 13 740
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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.
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