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Market monetarism is a school of macroeconomics that advocates that central banks use a nominal GDP level target instead of inflation, unemployment, or other measures of economic activity, with the goal of mitigating demand shocks such those experienced in the 2007–2008 financial crisis and during the post-pandemic inflation surge.
The theory of a credit channel has been postulated as an explanation for a number of puzzling features of certain macroeconomic responses to monetary policy shocks, which the interest rate channel cannot fully explain. For example, Bernanke and Gertler (1995) [2] describe 3 puzzles in the data:
Printable version; Page information; ... Size of this JPG preview of this PDF file: 388 × 599 pixels. ... Introduction to sociology: Author: Bogardus, Emory Stephen ...
Joseph Huber in 2011. Joseph Huber (born 4 November 1948 in Mannheim) is a retired German professor of sociology.From 1992 to 2012, he was the chair of economic and environmental sociology at Martin Luther University of Halle-Wittenberg, Germany.
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a contemporary one, known as "new economic sociology".
The monetarist theory states that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy. [1]
Monetary policy is the outcome of a complex interaction between monetary institutions, central banker preferences and policy rules, and hence human decision-making plays an important role. [100] It is more and more recognized that the standard rational approach does not provide an optimal foundation for monetary policy actions.
Since monetary possessions no longer ties the owner to a specific type of work, money leads to increased freedom. Consequently, monetary ownership enables the position of a purely intellectual worker and, by the same line of reasoning, it also implies that a wealthy man can lead a modest life.