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However, since 2008 the actual conduct of monetary policy implementation has changed considerably, using instead various administered interest rates (i.e., interest rates that are set directly by the Fed rather than being determined by the market forces of supply and demand [9]) as the primary tools to steer short-term market interest rate ...
The interest rate channel posits that an increase in the short-term nominal interest rate leads first to an increase in longer-term nominal interest rates. This is described by the expectation hypothesis of the term structure. In turn, this affects the real interest rate and the cost of capital, because prices are assumed to be sticky in the ...
One exception to this general trend is the endurance of the authoritarian rule of the Chinese Communist Party which has been unusually resilient among authoritarian regimes. Nathan posits that this can be attributed to four factors such as (1) "the increasingly norm-bound nature of its succession politics"; (2) "the increase in meritocratic as ...
For example, a central bank might set a target rate for overnight lending of 4.5%, but rates for (equivalent risk) five-year bonds might be 5%, 4.75%, or, in cases of inverted yield curves, even below the short-term rate. Many central banks have one primary "headline" rate that is quoted as the "central bank rate".
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
Authoritarian capitalism, [1] or illiberal capitalism, [2] is an economic system in which a capitalist market economy exists alongside an authoritarian government.Related to and overlapping with state capitalism, a system in which the state undertakes commercial activity, authoritarian capitalism combines private property and the functioning of market forces with restrictions on dissent ...
As Donald Trump faces growing scrutiny over his increasingly authoritarian and violent rhetoric, Fox News host Sean Hannity gave his longtime friend a chance to assure the American people that he ...
In this equation, is the target short-term nominal policy interest rate (e.g. the federal funds rate in the US, the Bank of England base rate in the UK), is the rate of inflation as measured by the GDP deflator, is the desired rate of inflation, is the assumed natural/equilibrium interest rate, [9] is the actual GDP, and ¯ is the potential ...