TITLE

A Comparative Institutional Analysis of Free Banking and Central Bank NGDP Targeting

AUTHOR(S)
Murphy, Ryan H.
PUB. DATE
November 2013
SOURCE
Journal of Private Enterprise;Fall2013, Vol. 29 Issue 1, p25
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This paper argues that the choice between free banking and central bank NGDP targeting is a difficult to answer empirical question, contrary to the position of those on either side of the debate. Public choice concerns, the lack of the signals of profit and loss, and optimal determination of currency areas are points against any form of central banking. However, free banking may be suboptimal relative to central bank NGDP targeting for three reasons explored here. Until more data become available, it is impossible to gauge the relative importance of one set of these tradeoffs against the other.
ACCESSION #
93429947

 

Related Articles

  • Is there a self-enforcing monetary constitution? Salter, Alexander // Constitutional Political Economy;Sep2014, Vol. 25 Issue 3, p280 

    A self- enforcing monetary constitution has rules that agents acting within the system will uphold even in the presence of deviations from ideal knowledge and complete benevolence. It thus does not require external enforcement. What would such a constitution look like? I show that two regimes-a...

  • Not All NGDP Is Created Equal: A Critique of Market Monetarism. Salter, Alexander William // Journal of Private Enterprise;Fall2013, Vol. 29 Issue 1, p41 

    Market Monetarism, with its policy rule of NGDP targeting, has in common with free banking that both seek to avoid monetary disequilibrium. One might conclude that these are different approaches to achieving the same end. The purpose of this paper is to show that the proximate ends are in fact...

  • Determinants and role of foreing direct investment in transition economies:with special look in FYR of Macedonia. Fetahi-Vehapi, Merale; Spasenoska, Irena // ILIRIA International Review;2012, Issue 1, p35 

    The aim of this paper is to provide clear insight about the determinants and role of FDI in transition country with particular reference in FYR of Macedonia. We are using a panel dataset for twenty seven - 27 transition countries over the period 1997 to 2009. Applying static and dynamic...

  • Malaysia: Reserves Rising...But No Panacea.  // Emerging Markets Monitor;3/1/2004, Vol. 9 Issue 44, p7 

    Looks at the external debt of Malaysia as of March 2004. Steady growth of the country's economy; Central bank reserves as of January 2004; Gross domestic product of the country.

  • SE Asian Rates: To Raise Or Not To Raise.  // Emerging Markets Monitor;7/12/2004, Vol. 10 Issue 14, p7 

    Reports on the efforts being made by Southeast Asian central banks regarding the level of interest rates to be implemented, as of July 2004. Role of gross domestic product data in the decision of China regarding its borrowing costs; Reason behind the decision of the Philippine central bank to...

  • Foreign Central Banks.  // Economic Trends (07482922);Sep2001, p18 

    Focuses on the foreign central banks. Risk of undershooting the inflation target and depressing activities; Depiction gross domestic product; Support for various reforms in the area of monetary policy.

  • NGN: Upside Pressures Persist.  // Emerging Markets Monitor;7/3/2006, Vol. 12 Issue 13, p22 

    Examines the performance of Nigerian naira. Indication that there is little danger of the central bank being unable to support the naira; Growth of the real gross domestic product in the first quarter of 2006; Factors which could result in naira appreciation, as was the case of Egypt at the end...

  • Confidence Must Be Recovered Quickly.  // Emerging Markets Monitor;10/28/2002, Vol. 8 Issue 28, p10 

    Presents forecasts on the Brazilian real as of October 2002. Need of the Brazilian government to boost market confidence; Failure of the debt auctions of the Brazilian central bank; Percentage of increase in the debt to gross domestic product ratio; Significance of a recovery in investment flows.

  • Fiscal Austerity Has Mixed Results.  // Latin America Monitor: Caribbean Monitor;Jul2003, Vol. 20 Issue 7, p7 

    Focuses on the growth of the gross domestic product (GDP) of the Dominican Republic for the first quarter of 2003. Contribution of the construction industry to GDP growth in the fourth quarter of 2002; Decrease in capital spending in the first quarter of 2003; Losses of the Baninter central...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics