On the monetary side, the Fed can withdraw a bit of money and tighten credit.
Mundell's supply-side framework never spurred the same kind of political interest on the monetary side as it did on the fiscal side, despite Kemp's and Wanniski's best efforts.
Mr Miles is particularly interesting on the monetary policy side of the story, which he thinks has been made more complicated by the fact that a given amount of spare capacity now seems to have a smaller downward impact on inflation than in the past.
The success of this subtitle of the Dodd-Frank Act will depend on how much weight the prospect of a monetary reward will place on the benefit side.
In India, on the macro side, there is the story of monetary tightening to fight inflation.
Even though there are signs of improvement, the U.S. economy is not out of the woods yet and the U.S. Fed may err on the side of caution when it comes to removing monetary policy accommodation.
FORBES: Technical Trading: The Bleeding Has Stopped For Now In Gold
The critics assume implicitly that all the expansion on the asset side of the Fed's balance sheet is offset by monetary liabilities, which simply isn't true.
With the lonely exception of Scott Sumner, virtually every libertarian or conservative who has expressed a strong opinion about monetary policy has come down on the side of the inflation hawks.
Restoring real monetary integrity engages all the hidden forces of economic law on the side of prosperity.
FORBES: Fiat Money: The Root Cause Of Our Financial Disaster
While manning the monetary policy dials, Bernanke agreed to forgo impartiality and err on the side of accepting inflation rather than risk upsetting the recovery.
On this plan, the EFSF could then be a proper European Monetary Fund, with one side managing adjustment programmes and (where necessary) orderly debt restructuring, and the other side using ECB liquidity to support confidence in solvent but troubled governments, by buying their bonds on the secondary market.
But Sir Mervyn has previously said that the government should not rely solely on monetary policy to nurse the economy back to health, and that more should be done on the supply side to help improve the UK's ability to produce goods and services.
应用推荐