In this text Tymoigne argues that financial stability should be the sole goal of central banks and suggests an alternative to the inflation targeting framework showing how interest-rate policy can help to solve some of the problems faced by central bankers.
In this text Tymoigne argues that financial stability should be the sole goal of central banks and suggests an alternative to the inflation targeting ...
The book studies the trends that led to the worst financial crisis since the Great Depression, as well as the unfolding of the crisis, in order to provide policy recommendations to improve financial stability. The book starts with changes in monetary policy and income distribution from the 1970s. These changes profoundly modified the foundations of economic growth in the US by destroying the commitment banking model and by decreasing the earning power of households whose consumption has been at the core of the growth process. The main themes of the book are the changes in the financial...
The book studies the trends that led to the worst financial crisis since the Great Depression, as well as the unfolding of the crisis, in order to pro...
