Monetary Policy Essays (Examples)

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Monetary Policies a Meeting Between Heads of

Words: 580 Length: 2 Pages Document Type: Essay Paper #: 60324073

Monetary Policies

A meeting between heads of state: President Obama of the United States and Naoto Kan of Japan has just concluded. he focus of the discussion was the exchange rate between the U.S. dollar and the Japanese yen. he president and prime minister along with the respective central bank heads agree that the current market exchange rate of 120 Yen to the dollar is too high, and as a result the respective governments will take steps to drive the value of the yen lower concomitant with an increase in the value of the dollar. o achieve this end government and central bank directives manifest themselves in several policy options.

Exchange Rates

Many policy advisors and officials contend that currency manipulation has no significant impact on exchange rates because annual official foreign exchange purchases of 40 billion to 70 billion per year by countries such as Japan and China pale…… [Read More]

The second method of moving the exchange rate between the yen and dollar is the one-way purchases of the dollar via the U.S. And Japanese central banks (See Appendix I- Direct Currency Purchases). An increase in the demand for the dollar will cause its value to rise relative to the yen; likewise the sale of yen in the open market will lead to a devaluation of the yen in relation to the dollar. It is important to remember that the context for these policy actions is to allow the Japanese yen to depreciate, which will have the effect of making their exports less expensive to foreigners and as such exports will increase. Second a devalued yen relative to the dollar will be an inflationary pressure on the Japanese economy which has suffered from extensive deflation over the past two decades.

Economic Stabilization Policies

Stabilization policies implemented either through monetary or fiscal policy are designed to smooth out the vicissitudes of the economic cycle by stabilizing the aggregate demand function. Economic stabilization has been an explicit goal of U.S. policy since the Employment Act of 1946. This act states that "it is the continuing policy and responsibility of the federal government to . . . promote full employment and production" (Mankiw, G. 2004). The Federal Reserve can use monetary policy to stabilize aggregate demand, while Congress can use fiscal policy in the form of government spending to achieve a similar function.
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Policy and Politics

Words: 676 Length: 2 Pages Document Type: Essay Paper #: 70841231

Policy and Politics

Policy and decision-making are complex issues. Even for what might appear to be a simple decision, there many underlying factors that influence the final outcome. Some of these factors are obvious, but some can be elusive and hidden from all of the parties. Policies are not instituted in a flash and the process of policymaking should not be taken lightly. This makes the process of policy making a slow one at best. The many facets of the issue must be discussed and debated for often long periods of time. Policymaking is wrought with many problems for which there is no obvious right or wrong answer. Deborah Stone addresses these paradoxes in The Art of Political Decision-making.

Stone's work stands apart from many authors that focus on the application of their model in only a few specific applications. One example is einhart and einhart (2011) who recently discussed…… [Read More]


Reinhart, C. & Reinhart, V. (2011). Limits of Monetary Policy in Theory and Practice. Cato Journal. 31 (3): 427-441.

Stone, D. (2001). Policy Paradox: The Art of Political Decision Making, W.W. Norton, third edition.

Thorson, K.(Producer) (2002-2008). The highlights of 100 [Television series episode]. HBO.

Retrieved from
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Policy Choices of the Future

Words: 2858 Length: 8 Pages Document Type: Essay Paper #: 39571207

To increase effective demand, Keynesians believe the government must balance the economy with deficit and increase expenditure. However, the constant alternation between booms and recession is causing the booms to get shorter while the recessions become longer. This phenomenon is the result of empirical evidence that indicates that in the end, the interest rates decrease.

However, this situation creates a problem of capitalism as the rich increase their wealth while financial deficit worsens. Minsky adopted the perspective of Keynesians, hypothesized financial instability, as the finance and money that connects the present with the future, but the future is uncertain. Minsky finds the problem of financial stability is in financing. However, financial instability increases under contemporary capitalism, which increases economic crisis. This leads to the conclusion that to solve economic crisis, there is a need to reduce financing and take up investments in real economy.

This is in contrast to the…… [Read More]

Works Cited

Cynamon, B.Z. And S.M. Fazzari (2008) "Household Debt in the Consumer Age: Source of Growth- Risk of Collapse," Capitalism and Society, Revised Chapter 6.

Cynamon, B.Z. And S.M. Fazzari and Setterfield, M "Understanding the Great Recession" CFS Chapter 1.

Fazzari, S.M. "The Legacy of Hyman Minsky and the Great Recession" Video Lecture, Washington University in St. Louis

Setterfiled, M. (2010) "Wages, Demand, and U.S. Macroeconomic Travails: Diagnosis and Prognosis," CFS Book.
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International Monetary System and Exchange Rate Policies

Words: 1065 Length: 4 Pages Document Type: Essay Paper #: 20667598

International Monetary System and Exchange ate Policies

A report/essay: chapter 17, multinational companies. select topic research write: Multinational vs. domestic financial management exchange rates international trade international monetary system exchange rate policies trading foreign exchange european monetary union interest

rate parity/purchasing power parity international capital structures.

The international monetary system and exchange rate policies

International Monetary systems

These are a set of rules and that regulate how international trade and payments are handled. It facilitates the exchange of capital, goods and services among countries. However, this system does not have a physical presence but, it consists of interlacing rules and procedures and is influenced by the market of foreign exchange. An example of an international monetary system is the International monetary fund. These interlacing rules and procedures are referred to as exchange rate Policies.

Exchange rate policies

These are rules that officials of public finance from different nations have developed…… [Read More]


Eichengreen. (2011). Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System

Goyal, M., Raman, Wang, and Ahmed; . ( 2011). Financial Deepening and International Monetary Stability.

Michael C. Ehrhardt, & Eugene F. Brigham. (2011). Corporate Finance (4th ed.): Cengage.

OECD. (2011). The Effects of Oil Price Hikes on Economic Activity and Inflation.
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Foreign Monetary System

Words: 1423 Length: 5 Pages Document Type: Essay Paper #: 85828963

Foreign Monetary System

A monetary system is any structure initiated by the government and mandated to issue currency, acknowledged as the medium of exchange by its citizens and governments of other nations. The central bank manages the monetary system of a country; this same bank has the responsibility of printing money and controlling the economy. Since the colonial period, coins from the European colonies had circulated in all the colonies. The Spanish coins gained dominance due to the scarcity of coins, during this time; the main form of trade was barter trade. The trade-involved items such as rice, tobacco, or animal skins, which took the form of money paper and notes, had varying rates of discount in different colonies rendering them of very low value (onald & Wright, 2006).

The high population in the U.S. called for increased trade and commerce. This forced the United States government to look for…… [Read More]


Ronald, M. & Wright, R.E. (2006). Development of the U.S. Monetary Union. Journal of Financial History Review, 13(1), 19-41.

Anonymous, (2011). Challenges and risks of the International Monetary System. Journal of Economic Review, 22(5), 768.

Eichengreen, B.J. (2008). Globalizing capital: A history of the international monetary system.

Princeton: Princeton University Press.
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Fiscal and Monetary Issues in America Economics

Words: 2730 Length: 8 Pages Document Type: Essay Paper #: 73454786

Fiscal and Monetary Issues in America


There are high tensions in the American economy today resulting from speculations whether the government will be able to hit the debt ceiling. Failure to hit the debt ceiling has serious economic effects to many sectors of the economy both in the United States and various countries of the world. Political disagreements regarding the budget delay decision-making process as the date ceiling draws closer each day. The government debt will cause disruption and failures in the U.S. market system and beyond because some rates will double while others will completely fall. The consequences of these are both the government and private sector failures and the economy will not be in a position to sustain itself. Government securities will lose market value and the cost of bonds will double because of the risk premiums. The result of this is government deficits, which will require…… [Read More]


Eichner, A.S., & Kregel, J.A. (1975). An essay on post-Keynesian theory: a new paradigm in economics. Journal of Economic Literature, 13 (4), 1293-1314.

Moseley, F. (1995). Heterodox Economic Theories: True or False?. Brookfield: Edward Edger


Lee, F & Bekken, J. (2009). Radical Economics and Labor. New York: Routledge Publishing.
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Financial and Monetary Economics Since

Words: 3006 Length: 8 Pages Document Type: Essay Paper #: 31835742

During times of extreme pressure from the supply or demand side, the central bank is prepared to go in and support the currency, to help provide stability. This is significant because traders around the world; will use the major currencies as a way to hedge themselves against different risks. Where, they will view the weakness of one country's currency as a sign that they could be facing a number of different economic challenges. (Fixed vs. Floating Exchange Rate, 2007) a good example of this can be seen with the ritish pound, where the ank of England decided to keep interest rates at .5%. This is important, because the increase in rates could be seen as a sign that economic stability could be returning to the country, which would help to reverse the downward pressure on the pound. However, the fact that they decided to keep interest rates unchanged, means that…… [Read More]


12 Myths of International Trade, 1999, Meti, viewed 3 May 2010,

Bank of England's Decision Affects Pounds Performance, 2010, to Forex News, view 3 May 2010,

Bretton Woods Agreement, 2010, Investopedia, viewed 2 May 2010, .

Fixed vs. Floating Exchange Rate, 2007, Article Base, view 3 May 2010,
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U S Macroeconomic Trends and Policies Macroeconomic Status

Words: 969 Length: 3 Pages Document Type: Essay Paper #: 21012257


Macroeconomic Status

The major recession that began in the United States in 2007 has drastically changed the landscape of the American economy, both in present times and for the future. Several major indices can be analyzed to determine the nature of this change, and there are many policy avenues in place through which the government can act to control its future course. By examining the current macroeconomic trends in the U.S., we can determine the likely economic scenario that we face in the future, and by understanding the fiscal and monetary policy tools at the government's disposal, we can determine the best method for manipulating those trends for a better outcome.

One macroeconomic trend that has been particularly troubling for economists and politicians during this recession is the civil unemployment rate. According to the Federal eserve Bank of St. Louis Economic Data (FED) site, the…… [Read More]


FRED Economic Data Tools. [2011] Economic Research, Federal Reserve Bank of St. Louis. Retrieved 3 October 2011 from

Long-Range Economic Forecasts [2011] The Financial Forecast Center. Retrieved 3 October 2011 from .

Klein, Ezra [June 7, 2010] "American does not have an expansionary fiscal policy." The Washington Post Online. Retrieved 3 October 2011 from
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History Sama Saudi Arabian Monetary Agency

Words: 837 Length: 3 Pages Document Type: Essay Paper #: 20800732


Historical evolution of functional responsibilities of SAMA

History of SAMA (Saudi Arabian Monetary Agency)

The Saudi Arabian Monetary Agency (SAMA) was established on October 4th, 1952 and is headquartered at iyadh, Saudi Arabia. SAMA operates as the central bank of the Kingdom of Saudi Arabia (KSA). Before setting up the Saudi Arabian Monetary Agency, KSA utilized the service of Saudi Hollandi Bank as the central agency to keep the governments gold reserves. The idea of setting up SAMA as the central government operated agency was materialized by Abdallah Sulaiman, the then finance minister of KSA. The currency that SAMA regulates and prints is the Saudi iyal, the official currency of KSA. The establishment of SAMA was decreed by King Abdul Aziz on 25/7/1371H, 20th of March, 1952 (SAMA, 2013).

Historical perspective

SAMA is currently the official agency charged with management of financial system. With the evolution and development of…… [Read More]


Ramady, M.A. (2010). The Saudi Arabian economy: policies, achievements, and challenges. Springer.

SAMA. (2013). Historical Preview. Saudi Arabian Monetary Agency. Retrieved from: []
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United States Macroeconomic Policy Most

Words: 1075 Length: 4 Pages Document Type: Essay Paper #: 65606115

With a lower interest rate, that incentive no longer exists and this is usually an instrument by which private entities can be driven out of saving and into investing into new business on the market. Obviously, such an action usually creates the appropriate momentum for economic development, creating jobs, increasing governmental revenues through revenues from taxation and helping the country out of the economic recession.

In terms of fiscal policies, the measures that the government needs to take will all attempt to move the IS curve further to the right and, in this sense, to stimulate the national economy, reduce the period that the country will pass through the recession and determine a national economic growth. There are two important means by which this can be done: increased governmental spending and decreased taxes, with a less restrictive taxation policy. As we can see on the IS - LM graph, both…… [Read More]

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National Economic Policies Economic Policies Refer to

Words: 1263 Length: 4 Pages Document Type: Essay Paper #: 44905072

National Economic Policies

Economic policies refer to the crucial action that the government takes to control the economic aspects that might affect the cash flows in any given nation. The government is essential in ensuring that all the economic activities in the nation maintained to secure the profitable margins of the nation. The economic policies control almost every activity in the nation, which are vital in controlling the economy. The national economic policies control the large economic fields of a given region to ensure that the nations make profits (Cohen 123). Most of the national, economical aspects are more vital in controlling the imports and exports into nations. The national economic policies generated by international institutions, established by the member state nations. In creating the management team of the international institution, each nation is required to give a leader that will assist in creating the policies to govern the economy…… [Read More]

Works cited

Cohen, Stephen D. The Making of United States International Economic Policy: Principles,

Problems, and Proposals for Reform. Westport, Conn: Praeger, 2000. Print.

Persson, Torsten, & Guido E. Tabellini. Political Economics: Explaining Economic Policy.

Cambridge, Mass. [u.a.: MIT Press, 2000. Print.
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International Monetary System

Words: 3495 Length: 8 Pages Document Type: Essay Paper #: 13803492

International Monetary System

In world trade, varied national currencies are swapped for each other by means of rules and procedures set by a system called the international monetary system. To delineate a general standard of value for the world's currencies, such a system is believed to be necessary.

The global monetary structure has always adhered to the organizational framework of the international discipline. In each stage of the financial capitalism there exists a corresponding monetary approach. The monetary structure during the postwar periods catered to the dominance of the United States. This was applied as a tool during the period to enforce the U.S. dominance over all its allies and the developing countries, irrespective of the socialist countries isolated themselves being unconnected from the influence of the financial and monetary disciplines of the global capitalism.

Gold standard was the first contemporary international monetary system. The gold standard contributed for the…… [Read More]


Amin, Samir. Replacing the International Monetary System? - Current Failures of Global Economic Policy. Monthly Review. Volume: 8; No: 1; October, 1993. pp: 93-98

Holloway, Thomas. M. The International Monetary System: Essays in World Economics. - Book Reviews. Monthly Labor Review. Volume: 12; No: 1; January, 1998. pp: 158-164

International Monetary System. The Columbia Encyclopedia. Sixth Edition. 2001. Retrieved from Accessed on 12 November, 2004.

Little, Jane Sneddon; Oliveri, Giovanni. P. Rethinking the International Monetary System: An Overview. New England Economic Review. Volume: 16; No: 1; November, 1999. pp: 24-29
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UK Join the European Monetary

Words: 2939 Length: 9 Pages Document Type: Essay Paper #: 27654606

(Minford; Walters, 2004, p. 306)

(xii) Competition to the U.S. dollar: In the likelihood of UK joining the EMU and adopting the single currency, the threat posed by the only international competitor to the U.S. dollar, the euro, would become real. Therefore, the U.S., at least would not encourage such a move and witness a downturn to its currency, the only true international currency. (Minford; Walters, 2004, p. 306) However, not all economic issues go against UK's joining the currency union. There are several factors which may benefit the UK if it joins the EMU.

Arguments in favor of joining the EMU

Some of the factors which support UK's joining the EMU are:

(i) A unified Europe where trade barriers are abolished and specialization and economic transactions occur as per the "Law of Comparative Advantage" will result in enhanced production and increase in the level of living standards. Increase in…… [Read More]


De Grauwe, Paul. 2007. Economics of Monetary Union. Oxford University Press.

El-Agraa, A.M. 2007. The European Union. Cambridge University Press.

Harris, Neil. 2001. Business economics. Butterworth-Heinemann.

Mankiw, N. Gregory; Taylor, Mark P. 2006. Economics. Cengage Learning EMEA.
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International Monetary System's Policies Support

Words: 1029 Length: 3 Pages Document Type: Essay Paper #: 90809578

According to Chancellor Helmut chmidt the interest rates of the developed countries in the post1990 era were higher than they had ever been "at any time since Jesus Christ" ( In 1983, in Latin America, whose devaluations were enormous, it was recorded that in one year "the effect on the individual private sector, which in [some] cases had been encouraged by the policies of the authorities to borrow, has been devastating...the amount needed in local currency to service external debt has increased three or four times" (Kuczynski,1983, p. 22). The situation in these countries is such: with the decrease of their currency value, more goods must be sold to pay back their debt plus interest, and since their export prices have been steadily declining in the post war years, their accumulated interest swells to a rate that is higher than the nominal dues stipulated in the original contract ( In…… [Read More]


Developing countries in the international economic system. Accessed on 1/13/2011 from:

InfoPlease, International finance. The International Monetary System. Accessed on 1/13/2011 from: /cig/economics/international-monetary-system.html

Kahn, a.A. (19-Jan-2009). International monetary system, globalization, and developing countries. The News, Accessed on 1/13/2011 from:

Kuczynski, P.P. (1983). Latin American Debt: Act Two, Foreign Affairs, 22-29
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Federal Reserve Policies 2000- the First Decade

Words: 1160 Length: 4 Pages Document Type: Essay Paper #: 52410494

Federal Reserve Policies 2000-

The first decade of the 21st century saw the U.S. economy on a peripatetic through tumultuous events, euphoric highs, and abysmal lows. The ten-year window highlighted three periods: 2000-2004, 2004-2007, and 2007-2010 in which the Federal Reserve actively utilized their policy levers to achieve their dual policy mandate of full employment and low inflation. The Fed's policy bag includes: the Fed funds rate, open market operations, discount rate, reserve requirements, and margin rates all of which were utilized during these three periods to achieve the ostensible goals of Fed policy. t is worth noting that in each of the three periods the Fed responded to economic conditions which they perceived to be harbingers of either inflationary pressures or anemic GDP and employment growth.


On March 10, 2000 the NASDAQ composite, a stock index representative of high flying dot-com companies, peaked at 5048 (Zarroli, J. March…… [Read More]

It is far too easy to be a Monday morning quarterback in regards to Fed policy and its role in igniting the financial crisis of 2008-2010, yet economists and pundits nevertheless look to the Fed as an easy target for the deleterious recession. One of the expected effects of monetary easing through open market operations of bond purchases, low Fed funds rates, and low discount rates is that credit in the banking system has a mellifluous flow which allows for greater lending to business and consumers. It is not surprising then that mortgage lending boomed in the years 2000-2004 with Fed funds rate declining throughout the period and mortgage rates at multi-decade lows. What is surprising however is the extent to which housing values skyrocketed from 2000-2007?

"From 2000 through 2006, national home prices rose by 88.7%, far more than the 17.5% gain in the consumer price index or the paltry 1% rise in median household income" (Siegel, J. October 27, 2009).

While low rates certainly did contribute to the boom in housing, the greater cause of the home price bubble growth and implosion which the country is still feeling the effects of, was Freddie, Fannie, low underwriting standards, NINJA products, and no down payments. The housing bubble burst in 2007 some three years after the Fed started raising the Fed funds rate; as such the logic of economists such as John Taylor is confusing at
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Turkey Economy Turkey -- Fiscal and Monetary

Words: 634 Length: 2 Pages Document Type: Essay Paper #: 76854214

Turkey Economy

Turkey -- Fiscal and Monetary Policy

Fiscal policy refers to how a government adjusts its level of spending on various goods and services it provides to a population. Governments can spend money in a number of different ways that ultimately serve the public good. They can employee people to work on various projects. For example, the government can invest in things like health care, infrastructure, or education. Investments in such project can have a significant impact the country's economy. hen the government spends money there is a multiplier effect that injects money into the economy. For example, when the government pays an employee then that employee has money to spend on housing, food, entertainment, and other items which helps to stimulate the economy on an aggregate level.

Monetary policy is an entirely different type of policy tool than fiscal policy. This policy is determined by a federal bank…… [Read More]

Works Cited

Bureau, P. (2012, November 3). PESTLE Analysis of Turkey. Retrieved from Market Analysis:

Business Insider. (2011, March 9). Turkey: A Model of Middle East Stability. Retrieved from Business Insider: 

Cademir, Y., & Peker, E. (2013, January 22). Turkey's Central Bank Keeps Easing Monetary Policy. Retrieved from The Wall Street Journal:

Reuters. (2013, July 8). Turkey's Central Bank kicks off monetary tightening, dollar down from all-time high. Retrieved from Hurriyet Daily News.
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Macroeconomic Policy Measures Introduced by the UK

Words: 1813 Length: 5 Pages Document Type: Essay Paper #: 94870104

macroeconomic policy measures introduced by the UK authorities in response to the global credit crisis and associated UK recession

Macro-economic policy measures

This essay is based on two scenarios of financial crisis that occurred consecutively in the United Kingdom and other parts of the World. The recent economic recession started in 2007 up to 2010 while the credit crunch was experienced in 2002 up to 2004. In both of the financial crisis what were witnessed were reduced employment levels, collapse of major sectors of the economy mostly the financial sector, high prices of goods and services brought about by high inflation rates, low economic productivity and a deficit in the balance of payment coupled with a general decline in the country's gross domestic product.

According to Dale, Proudman and Westaway (2010) the causes of the recent economic depression and the earlier credit crunch are more or less similar to one…… [Read More]


Buiter W. 2010, the Limits to Fiscal Stimulus, Oxford Review of Economic Policy pp 48-70.

Chung H., Davig T. And Leeper E. M 2007, Monetary and Fiscal Policy Switching. Journal of Money, Credit and Banking pp 809-42

Dale S., Proudman J., and Westaway P. 2010, The Inflation-targeting Regime in the United Kingdom: A View from Thread needle Street. Oxford Review of Economic Policy pp 3-14

Dooley M., and Garber P. 2009, Global Imbalances and the Crisis: A Solution in Search of a Problem. Vox EU. P 45-67
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Fiscal policy and paper money

Words: 2378 Length: 10 Pages Document Type: Essay Paper #: 44400550

Xian Feng emperor. A national monetary policy relates to issuing paper money. In the case of the emperor, this policy was done incorrectly and the government should not issuing paper money as the sole way to solve financial deficits. hat will be posed in this report will be some solutions and comparisons that would helped the country economically during that time period. The relevant time periods for this report shall be during the time of the Xian Feng emperor (1831-1861) and the later part of the Qing era

Xian Feng Emperor & Qing Government.

In general term, the 1700's was a prosperous point in time for the Qing government. Their empire was stable, China's borders were secured and agricultural production was strong enough to keep food shortages at bay and taxes for peasants low. However, during the 19th century, the Qing government was challenged by several threats and problems. These…… [Read More]

Works Cited

Horesh, Niv. Chinese Money In Global Context: Historic Junctures Between 600 BCE

& 2012. 1st ed., Stanford University Press, 2013.

Von Glahn, Richard. Fountain Of Fortune. 1st ed., Berkeley, Calif., University Of

California Press, 1996.
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Grant and Wilson Public Policy

Words: 1303 Length: 4 Pages Document Type: Essay Paper #: 42391968

He focused on tariff reform in the Underwood-Simmons Act by arguing that high tariffs created monopolies and hurt consumers, pushed to end certain child labor practices, and above all tried to engender a fairer distribution of public funds for housing, utilities, and public projects (Wilson, 2011).

However, looking back at his pre-World War I policies, it was his adamant work on currency and banking reform that seemed to have the greatest impact on American society. The Federal eserve's Monetary Policy is the most important function of the Fed and is probably the most used policy in macroeconomics. Monetary policy refers to the actions undertaken by a central bank, such as the Federal eserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal eserve Act of 1913 gave the Federal eserve responsibility for setting monetary policy. The Federal eserve controls the three…… [Read More]


Grant: A Reference Resource. (2011). Miller Center at the University of Virginia. Cited in:

Woodrow Wilson. (2011). Cited in: 

Wilson: A Reference Resource. (2011). Miller Center at the University of Virginia. Cited in:
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U S Tax Policy Although Smokers

Words: 2407 Length: 7 Pages Document Type: Essay Paper #: 41402953

orks Cited

Thorndike, Joseph J. "The IRS Is Hiding Its History." The ashington Times.

December 19, 1997, p. A23. February 18, 2008.


After 9/11, the Federal Reserve Bank, then led by Alan Greenspan, used monetary policy reduced the interest rate, or the rate that consumers must pay to borrow money. This did encourage individuals to spend more. However, it is still debatable if this was the most vital component in extricating America from the throws of economic recession. Government spending, or fiscal as opposed to monetary policy, is often seen as a more direct and superior way to rapidly change economic conditions. Fiscal policy was required to stimulate America's recovery from the Great Depression, according to conventional wisdom, although some still argue that it was the Hoover administration's monetary policy that was ineffective, not that monetary policy was ineffective altogether.

But most economists believe that, to get the…… [Read More]

Works Cited

Heakal, Reem. "What is fiscal policy?" Investopedia. October 22, 2008. 


Fairness does matter when creating a tax system. In terms of a consumption tax, the poor often consume more than the rich, at least in terms of a percentage of their income. While for a wealthy individual, much of his income can be locked up in assets, making money off of money, for a poor individual, the bulk of his or her income is devoted to buying necessary goods, including rent and food. The consumption tax taxes everyone equally on the surface, regardless of how someone has benefited from the economic system of a particular society, and actually favors those who can allocate their income to sectors of the economy that are not taxed (such as investments, which are not technically consumption).

A flat tax, where everyone pays the same amount, has similar problems in terms of allocating wealth. 15% of a poor person's income, a person who must pay for his or her rent, food, and necessities out of his or her weekly paycheck, means more to that individual than 15% of an income where much of that income can be devoted to investments and luxuries. While not as unfair as a consumption tax as investment income is also taxed, a flat tax is still unfair, and finding the right percentage to finance government operations yet not to be prohibitively costly for the poorest members of society is a difficult balance to strike. The only good thing about the flat tax is its simplicity, as along with the consumption tax as it requires less bureaucracy to enforce. Bureaucracy is expensive as well as frustrating (as anyone who has ever had to fill out a tax form beyond the standard EZ-file well knows!).
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Macroeconomic Policy Jan 20 2021

Words: 1160 Length: 4 Pages Document Type: Essay Paper #: 15128407

2004). The new Fed chairman would necessarily have to monitor inflationary pressures to prevent spikes in the cost of living. n this note the new Chairman would move from a policy of targeting core inflation which excludes the so called volatile food and energy prices, and focus on the headline rate which includes these components. Additionally the Consumer Price Index calculation would change to reduce the weight of housing in the index, "which makes up 41% of the typical consumer's budget" (Mankiw, G. 2004). More weight would be placed on those items which have steadily increased in price far above even the headline rate over the last decade: energy, food, health care, and education. These steps would help stabilize the dollar as a store of value for the consumer and investor.

The last selection criterion for the new chairman will be their belief in the purpose and efficacy of the…… [Read More]

On trade policy the administration strongly favors unfettered free trade between nations with reductions in tariffs, and the creation of compacts expanding access to global markets. "For more than two centuries economists have steadfastly promoted free trade among nations as the best trade policy" (Blinder, a.N.D.). The new administration will push for the immediate fast tracking of any trade pacts still on hold in Congress. Additionally the goal of establishing free trade alliances similar to NAFTA with all of the EU and Asia will be a strong priority.

On regulatory policy the Chair of the Council will need to embrace a policy of sound, logical, but limited regulation on business. The regulatory policy must be designed to ensure that consumers are protected however not impinge on the spirit of American entrepreneurship, risk taking, and profit maximization. Succinctly the administration "seeks more affordable, less intrusive means to achieve the same ends -- giving careful consideration to benefits and costs" (Obama, B. January 18, 2011).

The fourth piece of the economic policy puzzle is the administration's defense of a strong dollar policy. A weak and falling dollar robs the consumer
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Macroeconomic Situation the Development Policy

Words: 726 Length: 2 Pages Document Type: Essay Paper #: 68764092

If the Fed is more concerned with the core CPI, then rates are unlikely to be raised this year. An increase in rates would slow the economy down. However, if total CPI increases at a faster rate, this could force the Fed to raise rates slightly.

On the whole, however, the data does not support DESA's pessimism about the state of the American economy. The Federal Reserve is currently using expansionary monetary policy to keep the amount of money in the economy at a high level, to spur business investment and real estate markets. In addition, lower rates make it easier for consumers to re-adjust their balance sheets as well. hile the data about the U.S. economy is encouraging -- most key measures are trending up, with solid underlying support rather than as the result of short-term trends -- the U.S. economy is not growing so fast that contractionary monetary…… [Read More]

Works Cited:

Bureau of Economic Analysis. (2012). National income and product accounts. Retrieved February 11, 2012 from 

Bureau of Labor Statistics. (2012). Employment situation summary. Retrieved February 11, 2012 from 

Bureau of Labor Statistics. (2012). Consumer price index summary. Retrieved February 11, 2012 from 

DESA. (2012). World economic situation and prospects monthly briefing. Development Policy and Analysis Division of the United Nations. Retrieved February 11, 2012 from
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Economic Policy

Words: 908 Length: 2 Pages Document Type: Essay Paper #: 22669470

Economic Policy and the National Debt

Ironically, when governments overspend they typically find ways to refund or restructure debt -- when individuals or corporations within those countries do the same, the consequences are quite different. Money means more than one thing -- usually an object that is traded for payment of goods or services, of exchange. However, when we talk about the government, there is a huge different in the way the money supply works within the economy. In modern capitalism, commodity money (gold and silver) was replaced by representative wealth in that currency is no longer tied to the stores of precious metals. Instead, monetary policy under the Federal eserve states that the goal of fiscal policy is to "promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates" (U.S. Mint, 2011).

As individuals, we typically live within a budget based on our expenses and…… [Read More]


News. (2012). Fiscal Retrieved from:

Achenbaum, A. (2007). Older Americans, Vital Communities. Baltimore, MD: Johns Hopkins University Press.

Eberstadt, N. (August 31, 2012). Are Entitlements Corrupting U.S. The Wall Street Journal. Retrieved from: / SB10000872396390444914904577619671931313542.html

Pierson, C. (2006). Beyond the Welfare State. Malden, MA: Polity Press.
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Bretton Woods System vs The Economic and Monetary Union Emu

Words: 2561 Length: 6 Pages Document Type: Essay Paper #: 70344045

ules and Institutions of the Bretton Woods System

The increasing popularity of the importance of monetary unions has gained much focus in the recent past. Most states consider forming monetary unions a solution to most of their financial problems. However, they fail to realize the challenges associated with its establishment and sustainability. Therefore, this research paper analyzes two different monetary unions, their policies, failures and successes and lessons learnt from their experiences for future success of the monetary unions.

The key design features of the System

The system was designed with the fundamental aim of establishing an international financial system to overcome the real and perceived financial problems. Among the problems included the competitive devaluation, subordination of the monetary policy in relation to the external bane and the need for the establishment of a system that facilitated exchange rates for different foreign transactions (Eichengreen, 2004). The design of the system…… [Read More]


Ardy, B., 2000. Economic and monetary union: A review article. JCMS: Journal of Common

Market Studies, 38 (7), p.667.

Avgouleas, E. 2010. The governance of global financial markets and international financial regulation: Legal framework and policy directions. Cambridge: Cambridge Univ. Press.

Bernstein, E.M., and Kirshner, O. 1996. The Bretton Woods GATT system: Retrospect and prospect after fifty years. Armonk, NY [u.a.: Sharpe.
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Analyzing Demand'side Policies and the Great Recession of 2008

Words: 978 Length: 3 Pages Document Type: Essay Paper #: 15442307

Demand-Side Policies and the Great ecession of 2008

A recession can be defined as an overall downward spiral in a nation's economy. In particular, the outcome of recession is high inflation, high level of unemployment slowing down its gross domestic product (GDP) (Study, 2016). In this period there is an economic weakening and is usually accompanied and further complicated by decrease in the stock market, an upturn in unemployment and also a deterioration in the housing market. Some of the factors that cause recessions include high interest rates, increased inflation, decreased consumer confidence, and decreased real wages (Mankiw, 2014).

Fiscal Policies

In delineation, fiscal policies refer to the use of government expenditure and taxation to regulate the aggregate level of economic activity. It can be argued that by increasing investment or government expenditure, for instance, an initial stimulus to expenditure, through the multiplier-accelerator interaction results in an even greater increase…… [Read More]


Carvalho, C., Eusepi, S., & Grisse, C. (2012). Policy initiatives in the global recession: what did forecasters expect? Current Issues in Economics and Finance, 18(1).

Genetski, R. (2014). Monetary Policy and the Financial Crisis of 2007-2008. Classical Principles.

Hetzel, R. L. (2009). Monetary policy in the 2008-2009 recession. FRB Richmond Economic Quarterly, 95(2), 201-233.

Labonte, M. (2016). Monetary Policy and the Federal Reserve: Current Policy and Conditions. Congressional Research Service.
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Demand Side Policies and the Great Recession

Words: 1009 Length: 3 Pages Document Type: Essay Paper #: 31436162

Demand-Side Policies and the Great ecession

A recession can be delineated as a substantial deterioration in activity across the economy that persists for a period exceeding a few months. This significant decline can be perceived in business production, employment, real income, and retail trade (Investopedia, n.d). Fiscal policy refers to the use of government expenditure and taxation to regulate the aggregate level of economic activity. On the other hand, monetary policy can be delineated as one of the public interventionist measure purposed at impelling the level and pattern of economic activity to attain particular desired objectives. Monetary policy can be said to encompass all actions undertaken by the central bank and the government, which influence the quantity, cost and availability of money and credit in the economy (Colander and Gambler, 2006). The purpose of this paper is to discuss the fiscal and the monetary policies adopted and implemented by the…… [Read More]


Blinder, A. S., & Zandi, M. M. (2010). How the great recession was brought to an end (pp. 1-23). Moody's

Carvalho, C., Eusepi, S., & Grisse, C. (2012). Policy initiatives in the global recession: what did forecasters expect? Current Issues in Economics and Finance, Volume 18, Number 2.

Colander, D. C., Gambler, E. N. (2006). Macroeconomics. Cape Town: Pearson Prentice Hall.

Investopedia. (n. d). Recession. Retrieved from:
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European Economic and Monetary Union Emu and

Words: 2189 Length: 7 Pages Document Type: Essay Paper #: 92320203

European Economic and Monetary Union (EMU) and the euro. Included is a critical assessment of the sources used.

All of the sources used for this report were well written, concise, and understandable. The European Union and the Euro are difficult topics to understand on a first reading, but the authors had a real understanding of their topics, and explained the issues clearly.

For example, Taylor gives the background that makes the forming of the European Union more understandable. "This Summit produced a communique which supported the idea of European Union by 1980, and proposed a great push towards a European Great Society, illustrated by the efforts made to push the European social programme forward at that time, which no member government opposed" (Taylor 10).

The subject could be considered dry, but Taylor gives it life, making his book interesting to read, and right to the point. He writes with authority,…… [Read More]


Barclays Capital. "Barclays Capital says new Poll Showing Depth of Opposition to Euro Suggests Gilts to Decouple from European Bonds." 30 Nov. 2001. 6 Dec. 2001.

Bartlett, Patrick. "Problems' Threaten Euro Launch." BBC News. 4 Dec. 2001.

Euro Web Site. "Questions & Answers on the Euro and European Economic and Monetary Union." 9 Sept. 1998. 5 Dec. 2001.

Europe Yes, Euro No! "Opposition to Euro Remains at Record Levels - Six Cut of Ten Labour Voters Say No." 3 Sept. 2000. 6 Dec. 2001.,Werner J. The Integration of the European Union and Domestic Political Issues. Westport, CT: Praeger Publishers, 1998.
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Leadership and Rotational Development Program for Saudi Arabian Monetary Agency SAMA

Words: 1584 Length: 5 Pages Document Type: Essay Paper #: 68053360

Leadership and otational Development Program for Saudi Arabian Monetary Agency (SAMA)

Leadership development and rotational programs are crucial for building the potential, skills, and capabilities of new and existing employees. They provide employees with ongoing mentorship, in-depth experiences, as well as training across various functions within the organisation (Columbia University Centre for Career Education, 2016). Organisations rely on these programs to recruit and develop individuals for leadership responsibilities. This paper provides important guidelines for the design of a leadership development and rotational program for the Saudi Arabian Monetary Agency (SAMA). The program is aimed at fresh graduates with less than two years working experience.

Designing the Program

Program Objectives

The first step in designing the leadership development and rotational program is to define the objective of the program (Donnelly, 2016). It is indeed a critical step. The objective should resonate with the overall objective of the organisation. It should clearly…… [Read More]


Columbia University Centre for Career Education (2016). Leadership development and rotational programs. Retrieved from:

Donnelly, T. (2016). How to create a leadership development program. Retrieved from:

Gurdjian, P., Halbeisen, T., & Lane, K. (2014). Why leadership development programs fail. Retrieved from:

Pernick, R. (2002). Creating a leadership development program: nine essential tasks. Alexandria: International City/County Management Association (ICMA).
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Global Economic Policy the Combined

Words: 413 Length: 1 Pages Document Type: Essay Paper #: 81147329

Thatcherism is also a political ideology that focuses on privatization of state-owned businesses and utilities, opposition to trade unions and a higher level of free market economic growth. Keynesian economists including Nobel Prize winner Milton Friedman considered Thatcherism anachronistic and more suited for the developing economies of the world than the more complex and developed westernized economies the United Kingdom and United States represent. Keynesians believe that broader economic growth and the focus on managing exchange rates is best defined through aggregate demand indicators for goods and services over money supplies.


Booth (1984) - the Economic History eview, New Series, Vol. 37, No. 2. (May, 1984), pp. 263-267. Accessed from JStor on February 7, 2007 from location:

ollings (1985) - the Economic History eview, New Series, Vol. 38, No. 1 N. ollings. (Feb., 1985), pp. 95-100. Accessed from JStor on February 7, 2007 from location:

Porter (1990)…… [Read More]


Booth (1984) - the Economic History Review, New Series, Vol. 37, No. 2. (May, 1984), pp. 263-267. Accessed from JStor on February 7, 2007 from location:

Rollings (1985) - the Economic History Review, New Series, Vol. 38, No. 1 N. Rollings. (Feb., 1985), pp. 95-100. Accessed from JStor on February 7, 2007 from location:
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UK Economic Policy an Analysis of the

Words: 978 Length: 4 Pages Document Type: Essay Paper #: 28910672

UK Economic Policy

An analysis of the latest figures for key economic indicators and the factors which have affected these indicators. This should include the figures for unemployment, inflation and economic growth


Unemployment is one of the key economic indicators in the UK as well as in all modern nations. Unemployment in the UK rose for the fourth consecutive quarter in Q3 2012 with an increase of one hundred thousand people which also represents the strongest quarterly growth rate since 2007 (Office for National Statistics, 2012). Although the unemployment rate is still above seven percent overall which is still high, it has made substantial gains since the recession. Much of the employment activity though seems to be driven by the public sector which is the fastest growing sector in the economy.

Figure 1 - Unemployment Rate (Office for National Statistics, 2012)


The inflation indicator used in the UK…… [Read More]

Works Cited

Office for National Statistics, 2012. GDP and the Labour Market, 2012 Q3 - December GDP Update. [Online]

Available at:

[Accessed 21 December 2013].

Office for National Statistics, 2013. Consumer Price Indices Summary, December 2012. [Online]
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Bretton Woods International Monetary System Was Invented

Words: 1062 Length: 3 Pages Document Type: Essay Paper #: 32418198

Bretton Woods International Monetary System was invented and put in use from the end of World War II until the mid 1970s. In theory the system was designed to make banking more global and more streamlined. In fact, according to historians, "the Bretton Woods system was history's first example of a fully negotiated monetary order intended to govern currency relations among sovereign states. In principle, the regime was designed to combine binding legal obligations with multilateral decision-making conducted through an international organization, the IMF, endowed with limited supranational authority" (, 2013).One of the elements of this system which manifested in practice was the fact that so much of th4e development and nuances of this system were directly reliant on the needs and policies of the most influential member of this international banking system; this member was the United States. One of the fundamental assumptions that the design of this system…… [Read More]

References (2013). Labor Productivity and Comparative Advantage. Retrieved from 

Duhigg, C., & Bradsherr, K. (2012, January 12). How the U.S. Lost Out on iPhone Work. Retrieved from (2013). Definition of 'Quantitative Easing 2 -- QE2'. Retrieved from 

Leeds, S. (2010, November 8). The Arguments Against QE2. Retrieved from
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International Monetary Economics

Words: 605 Length: 2 Pages Document Type: Essay Paper #: 31494374

International Monetary Econ

The price of a Big Mac varies around the world, and has been used (albeit not seriously) as a means of testing currency exchange rate parity. The prices of a Big Mac around the world are gathered in the Big Mac Index found on Oanda. The price of a Big Mac in U.S. dollar terms using current spot rates and July 28, 2011 Big Mac prices are as follows:


Local Price

USD Price














To calculate the predicted exchange rate, the local currency price should be divided by dollars. Thus the exchange rate implied by the price of a Big Mac is as follows:


Implied Exchange Rate
















According to the Big Mac parity theory, currencies whose values diverge…… [Read More]

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Analysis of Trump's Proposed Economic Policies

Words: 639 Length: 2 Pages Document Type: Essay Paper #: 84006776

macroeconomic themes that have been taught or covered in this course is economic policy and its role in determining or influencing economic growth and development. Economic policy is a subject that has attracted considerable attention in recent months because of the presidential elections in the United States. Actually, monetary policy was one of the major issues in recent presidential campaigns and elections. This issue has also been subject of several publications by different new sources because of its significance in the country's economic growth and development. Paula Dwyer wrote an article to examine the recent rise of the Dow Jones Industrial Average in the aftermath of Donald Trump's election as the U.S. President. This analysis was carried out on the premise of the impact of Trump's economic policies on different aspects of the economy. The U.S. market has shown indication of its approval of Trump's economic policies in different ways…… [Read More]

Work Cited

Dwyer, Paula. "The Hidden Meaning of Dow 20,000." Online posting. Bloomberg Businessweek. Bloomberg L.P., 22 Dec. 2016. Web. 23 Dec. 2016. .
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China's Economy and Foreign Policy

Words: 3282 Length: 8 Pages Document Type: Essay Paper #: 99523028

China's Economy And Foreign Policy

There have been radical changes in the internal political and economic scenario of China during the last two decades. (Lampton, 2001) The growing economic stability and control has increased the status of china to a great extent among its trading counterparts. Further, it has become obligatory on the part of the Chinese Government to make it certain that the economic development to restructure the political discipline whose ideology had a severe jolt with the fall of Soviet Union. (Part Two - Chinese Foreign Policy) Ever since the inception of economic reforms in China during 1978 there is a considerable enhancement in the Gross Domestic Product to the tune of 9.5% per annum on average. It is pertinent to probe on the factors responsible for such a great success. The success is attributed to the adoption of institutions and policies by the Chinese Government that could…… [Read More]


Burns, Robert (1997) "Gore, Gingrich set missions to woo China" The Associated Press.

Carr, Earl. (February 19, 2004) "U.S. Diplomacy Needs Chinese Characteristics" Asia Times. pp: 5-7

Chinese Foreign Policy. Program for Contemporary Silk Road Studies. Retrieved from Accessed on 18 March, 2005

Chow, Gregory. (2000) China's Economic Reform and Policies at the Beginning of the 21st Century. Perspectives. Vol: 2; No: 1; pp: 47-53
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International Monetary Economics

Words: 2932 Length: 10 Pages Document Type: Essay Paper #: 90325702

Barry Eichengreen (2011) has speculated that the U.S. dollar may be on the decline as the world's vehicle currency. The dollar has performed this role since at least Bretton oods, when the financial and political might of the United States allowed it to take the lead in the global financial system from Great Britain. However, that lead is being challenged today by two other currencies. One is the euro, which derives from the Eurozone, a basket of nations that has an economy around the same size as the United States. The other is from the Chinese yuan, a currency that is pegged to some degree to the U.S. dollar, but which is backed by the world's third-largest economy (behind the U.S. And Eurozone) and one that is growing rapidly. The creation of the euro immediately fuelled speculation that it would overtake the dollar as the world's vehicle currency, and the…… [Read More]

Works Cited:

Devereux, M. & Shi, S. (2008). Vehicle currency. University of Toronto working papers. Retrieved November 29, 2011 from

Eichengreen, B. (2011). Why the dollar's reign is near an end. Wall Street Journal. Retrieved November 30, 2011 from

Goldberg, L. & Tille, C. (2005). Vehicle currency use in international trade. Federal Reserve Bank of New York, staff report #200.

Lim, B. & Qing, K. (2011). China to step up ASEAN yuan trade settlement. Reuters. Retrieved November 29, 2011 from
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Policy-Making Process Stages Diagram for the Legalization

Words: 664 Length: 2 Pages Document Type: Essay Paper #: 26629131

Policy-Making Process Stages diagram for the legalization of marijuana is to identify a problem with this issue, mainly that this is a medicinal plant that helps people and could help more were it legalized. In the agenda setting step, it is necessary to form an agenda that legalization could aid this problem. In the policy development step, it is vital to detail how legalizing marijuana could help with the original problem. Implementation would require getting this policy changed by getting people to vote for it. Evaluation would involve analyzing the effects of the changed law.

Question 2 The major elements of supply side economics were lower taxes and deregulation so that those that are providing jobs -- essentially those that are at the top of a country's economic hierarchy -- will have necessary incentives and breaks to begin spending more and hiring more people (Ferrara). Therefore, this policy is aimed…… [Read More]

Works Cited

Ferrara, Peter. Reagonomics vs. Obamanomics: Facts and Figures. 2011. Web.

Madhani, Aamer. Houston Panel Clears Cop in Shooting Unarmed Man. 2014. Web.
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Fed's Options During the Great Recession

Words: 619 Length: 2 Pages Document Type: Essay Paper #: 98284791

Monetary Policy

Federal Reserve Money Supply Policy Options at the Beginning of the Great Recession

money supply in October of 2008 was $1.4573 trillion, but by December of the same year it had reached $1.6038 trillion. By comparison, the prime interest rate declined from 4.56 to 3.61% during the same period. he slope and y-intercept of the line is -6.2914 and 13.7284, respectively, which allows a calculation of expected interest rates for any value of money supply. In the figure to the right, MS1 is $1.52 trillion dollars and the expected interest rate would be 4.166%, but if money supply increased to $1.57 trillion (MS2) the prime interest rate would be expected to decline to 3.851%, assuming inflation remains constant.

For the same period, gross domestic investment decreased from $3.0816 to $2.8917 trillion as the bank prime interest rate declined from 4.56 to 3.61%. he slope and y-intercept for this…… [Read More]

The marginal propensity to consume (MPC) represents the change in consumer consumption as income changes. Between October and December 2008, consumption went from $9.9748 to $9.7369 billion and income declined from $11.0084 to $10.8587 trillion. The change in consumption was -- $0.2379 billion and the change in income was -- $149.7 billion; therefore, MPC = -- 0.2379 / -- 149.7 = -- 0.0015891. The multiplier would be 1/(1 -- MPC) = 1/(1 -- 0.0015891) = 1.001591. For a $169 billion increase in GDP this would amount to only $270 million dollars, an amount that would not be visible on the above graphs.


Based on the above analysis, using open market operations to implement an expansionary monetary policy would probably not work very well given that falling interest rates have had no effect on investment rates. The Federal Reserve could begin purchasing U.S. treasuries to increase money supply, which would be expected to further lower interest rates; however, it seems unlikely that this would stimulate investment given the data presented here. The second step would be to encourage discount lending to troubled banks, which would effectively increase the money supply. The Fed could implement the 'nuclear option' by lowering the reserve requirement. Given the corrupt lending policies that caused the Great Recession, lowering the reserve requirement would be equivalent to throwing gasoline on a fire. It would have the effect of increasing the money supply, but it seems unlikely that the banks would use this money to make more loans.
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Functions of the International Monetary System a

Words: 1043 Length: 3 Pages Document Type: Essay Paper #: 76021684

functions of the International Monetary system, a few significant institutions which deal with foreign currency as well as conclude on which system of exchange rates is more useful in the corporate world.

History of the International Monetary System:

In the start of the economical world, people were commonly in the habit of using the barter system to purchase goods that were in need. With time though, the system of trading gold and silver coins started to evolve. Around the 19th century, officially, countries started issuing themselves a basic currency. This marked as the beginning of the modern day monetary system of trade.

In the Pre-World War era, money unions evolved which enabled people of different countries to easily exchange currencies. In this period of time, there was a low level of financial crisis and economies were growing steadily. However, with the World War going on, global trade and the flow…… [Read More]


Eichengreen, B. (2008). Globalizing capital: A history of the international monetary system. Princeton University Press.

Stein, J.L. (1997). Fundamental determinants of exchange rates. University of Oxford.

The World Bank (2005). Getting to know the world bank: A guide for young people. The World Bank

Thornton, R.C. (2001). The nixon-kissinger years: Reshaping America's foreign policy. Paragon House.