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- W2588405964 abstract "Motivation: Cashless or DSGE models did not allow to predict the Great Recession — which may suggest that they omit some important variables like money or credit, for instance.Aim: The paper summarizes changing views on money’s importance in modern monetary policy and reviews pros and cons of assigning any special role to money by central banks.Results: On the basis of literature review and the 2007–2009 crisis experiences, author apposes arguments for possible improvements in monetary policy frameworks. The paper is organized as follows: section 1 reviews some basic facts about monetary aggregates, section 2 presents the methodology of the research, section 3 discusses pros and cons of assigning special relevance to money in central banking, section 4 concludes." @default.
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- W2588405964 date "2016-12-31" @default.
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- W2588405964 title "Modern central banking from monetary perspective" @default.
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- W2588405964 doi "https://doi.org/10.12775/eip.2016.037" @default.
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