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POSTKEYNESOVSKÁ INTERPRETÁCIA TRADIČNÉHO IS-LM MODELU

100%
Hošoff B.
Ekonomický časopis (Journal of Economics)
|
2006
|
vol. 54
|
issue 6
572-583
EN
Neoclassical interpretation of Keynes' thoughts based on the IS-LM model are well known and widely accepted, mainly because of the rather simple and straightforward mathematical components describing the relations between the effective demand and the liquidity preference theory. Despite that, this interpretation suppressed Keynes's novelty and contribution to economic theory. Further development and expansion of the banking services created new platform for the post-keynesian monetary theory of the production, which is developed from the rigorous analysis of the banking money and production. Bernard Schmitt's contribution to further development of the Keynes theory is without doubt enriching of the modern economic thinking, which is important in the light of the rapid development of the banking systems during the last 25 years.
2

MONETARY POLICY AND GOODHART'S LAW (Polityka pieniezna a prawo Goodharta)

58%
Gotz-Kozierkiewicz D.
Ekonomista
|
2010
|
issue 2
163-174
EN
Realistically, monetary policy in the contemporary economy has been facing functioning of commercial banks inconsistent with the textbook model. According to the Goodhart's law, banks have been finding out the solutions effective to protect their income notwithstanding the intentions of the monetary authority. Such motivations have also been driving the increasing involvement of the banks in the use of i.a. fixed interest rate securities in management of bank assets and liabilities. This has been contributing to unpredictability of effects of the changes of the short-term interest rate of the central bank on the financial sector and real economy.
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