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| 001 | 9780691265322 | ||
| 003 | DE-B1597 | ||
| 005 | 20260416115150.0 | ||
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| 008 | 260303s2025 nju fo d z eng d | ||
| 020 | _a9780691265322 | ||
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_a10.1515/9780691265322 _2doi |
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| 035 | _a(DE-B1597)BR1309512 | ||
| 035 | _z(OCoLC)1483147030 | ||
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_aDE-B1597 _beng _cDE-B1597 _erda |
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| 041 | 0 | _aeng | |
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_anju _cUS-NJ |
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_aBUS _x069030 _2bisacsh |
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_aBUS _x039000 _2bisacsh |
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_aPOL _x024000 _2bisacsh |
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_aBUS _x027000 _2bisacsh |
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| 100 | 1 |
_aBenigno, Pierpaolo, _eauthor. _4aut _4http://id.loc.gov/vocabulary/relators/aut |
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_aMonetary Economics and Policy : _bA Foundation for Modern Currency Systems / _cPierpaolo Benigno, Pierpaolo Benigno. |
| 264 | 1 |
_aPrinceton, NJ _bPrinceton University Press, _c[2025] |
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| 264 | 4 | _c©2025 | |
| 300 | _a1 online resource | ||
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_atext _btxt _2rdacontent |
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_acomputer _bc _2rdamedia |
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_aonline resource _bcr _2rdacarrier |
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_atext file _bPDF _2rda |
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_tFrontmatter -- _tDedication -- _tContents -- _tPreface -- _tPart I: Currency and Money -- _tIntroduction -- _t1. The Value of Currency -- _t2. Cash as a Medium of Exchange -- _t3. Central Bank Digital Currency -- _t4. Private Money -- _tPart II: Stabilization Policies -- _tIntroduction -- _t5. The Benchmark New Keynesian Model -- _t6. An AS-AD Graphical Analysis -- _t7. Inflation Targeting as an Optimal Policy -- _t8. NK Model with a Banking Sector -- _tPart III. Crisis Models -- _tIntroduction -- _t9. Liquidity Trap -- _t10. Deleveraging and Credit Crunch -- _t11. Shortage of "Safe Assets" -- _tPart IV: Inflation -- _tIntroduction -- _t12. The Inflation-Unemployment Trade-Off -- _t13. Hyperinflation -- _tPart V: Conclusion -- _t14. The Future of Monetary Policy -- _tPart VI: Appendix -- _tAppendix to Chapter 1 -- _tAppendix to Chapter 2 -- _tAppendix to Chapter 3 -- _tAppendix to Chapter 5 -- _tAppendix to Chapter 7 -- _tAppendix to Chapter 8 -- _tBibliography -- _tIndex |
| 506 | 0 |
_arestricted access _uhttp://purl.org/coar/access_right/c_16ec _fonline access with authorization _2star |
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| 520 | _aA unified framework for understanding monetary policy, including recent unprecedented interventions by central banksOver the past two decades, monetary policy has been deployed in unprecedented ways, as central banks attempted to mitigate the adverse consequences of the 2007–2008 financial crisis, the COVID-19 global lockdown, and recent inflationary surges. In Monetary Economics and Policy, Pierpaolo Benigno offers a new way to understand the potency and effectiveness of monetary policy, presenting a unified modeling framework to analyze policy challenges posed by both paper and digital currency systems. He investigates current theoretical and policy controversies, drawing connections with historical themes in monetary economics.Benigno examines how central banks control the value of their currency amid competition from cryptocurrencies and private money-like securities; discusses the desirability of inflation targeting for macroeconomic stabilization; and explores theoretical grounds for the unconventional monetary policies seen in the recent period of zero nominal interest rates, including forward guidance, quantitative and credit easing, and helicopter money. He accompanies his analysis with an innovative visual representation of the New Keynesian model and inflation-targeting policies.Benigno’s novel framework also allows the study of monetary policy normalization through quantitative tightening toward what has become the “new normal.” He discusses the optimal provision of liquidity and the different roles of the government and financial intermediaries. Finally, he recounts historical controversies regarding the inflation-unemployment trade-off to understand the 2020s inflationary surge and delves into the causes and dynamics of hyperinflations, tracing them to the subtle, ambiguous linkages between monetary and fiscal policy and weak balance-sheet conditions for the central bank. | ||
| 538 | _aMode of access: Internet via World Wide Web. | ||
| 545 | _aPierpaolo Benigno holds the Chair of Monetary Macroeconomics at the Institute of Economics of the University of Bern, where he is deputy head of the Department of Economics. | ||
| 546 | _aIn English. | ||
| 588 | 0 | _aDescription based on online resource; title from PDF title page (publisher's Web site, viewed March 03 2026) | |
| 650 | 7 |
_aBUSINESS & ECONOMICS / Economics / Theory. _2bisacsh |
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| 650 | 7 |
_aBUSINESS & ECONOMICS / Economics / Macroeconomics. _2bisacsh |
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| 650 | 7 |
_aPOLITICAL SCIENCE / Public Policy / Economic Policy. _2bisacsh |
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| 650 | 7 |
_aBUSINESS & ECONOMICS / Finance / General. _2bisacsh |
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| 653 | 0 | _aMonetary Economics and Policy: A Foundation for Modern Currency Systems | |
| 653 | 0 | _aPierpaolo Benigno | |
| 653 | 0 | _aMoney | |
| 653 | 0 | _aFiat Money | |
| 653 | 0 | _aGold Standard | |
| 653 | 0 | _aCurrency | |
| 653 | 0 | _aCryptocurrency | |
| 653 | 0 | _aBitcoin | |
| 653 | 0 | _aInflation | |
| 653 | 0 | _aUnemployment | |
| 653 | 0 | _aQuantitative Easing | |
| 653 | 0 | _aInterest Rate | |
| 653 | 0 | _aInflation Targeting | |
| 653 | 0 | _aForward Guidance | |
| 653 | 0 | _aSafe Assets | |
| 653 | 0 | _aFinancial Crisis | |
| 653 | 0 | _aCentral Bank | |
| 653 | 0 | _aNew Keynesian | |
| 653 | 0 | _aFiscal Policy | |
| 653 | 0 | _aMonetarism | |
| 653 | 0 | _aModern Monetary Theory | |
| 653 | 0 | _aPhillips Curve | |
| 653 | 0 | _aHyperinflation | |
| 653 | 0 | _aUnconventional Monetary Policy | |
| 653 | 0 | _aZero-Lower Bound | |
| 653 | 0 | _aCentral Bank Digital Currency | |
| 653 | 0 | _aHelicopter Money | |
| 653 | 0 | _aMonetary Economics and Policy: A Foundation for Modern Currency Systems | |
| 653 | 0 | _aPierpaolo Benigno | |
| 653 | 0 | _aMoney | |
| 653 | 0 | _aFiat Money | |
| 653 | 0 | _aGold Standard | |
| 653 | 0 | _aCurrency | |
| 653 | 0 | _aCryptocurrency | |
| 653 | 0 | _aBitcoin | |
| 653 | 0 | _aInflation | |
| 653 | 0 | _aUnemployment | |
| 653 | 0 | _aQuantitative Easing | |
| 653 | 0 | _aInterest Rate | |
| 653 | 0 | _aInflation Targeting | |
| 653 | 0 | _aForward Guidance | |
| 653 | 0 | _aSafe Assets | |
| 653 | 0 | _aFinancial Crisis | |
| 653 | 0 | _aCentral Bank | |
| 653 | 0 | _aNew Keynesian | |
| 653 | 0 | _aFiscal Policy | |
| 653 | 0 | _aMonetarism | |
| 653 | 0 | _aModern Monetary Theory | |
| 653 | 0 | _aPhillips Curve | |
| 653 | 0 | _aHyperinflation | |
| 653 | 0 | _aUnconventional Monetary Policy | |
| 653 | 0 | _aZero-Lower Bound | |
| 653 | 0 | _aCentral Bank Digital Currency | |
| 653 | 0 | _aHelicopter Money | |
| 700 | 1 |
_aBenigno, Pierpaolo, _eauthor. _4aut _4http://id.loc.gov/vocabulary/relators/aut |
|
| 773 | 0 | 8 |
_iTitle is part of eBook package: _dDe Gruyter _tPrinceton University Press Complete eBook-Package 2025 _z9783110749762 _oZDB-23-9 |
| 856 | 4 | 0 | _uhttps://www.degruyterbrill.com/isbn/9780691265322 |
| 856 | 4 | 2 |
_3Cover _uhttps://www.degruyterbrill.com/document/cover/isbn/9780691265322/original |
| 912 |
_aZDB-23-9 _b2025 |
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| 912 | _aGBV-deGruyter-alles | ||
| 942 | _cE-BOOK | ||
| 999 |
_c49533 _d49533 |
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