User:Nick Gardner /Sandbox: Difference between revisions

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Fortunately, increased bank lending is not necessary for Quantitative Easing to work. Indeed, it was precisely because the Monetary Policy Committee expected the additional monetary injection not to stimulate bank lending directly at the current juncture, that the Asset Purchase Facility’s purchases were targeted at assets held primarily by the non-bank private sector1. So if the Asset Purchase Facility buys gilts from pension funds or asset managers, they will then have to look for another home for their money. As it is not very rewarding just to hold it on deposit, they are likely to look to put their money into other assets, including equities and corporate bonds. Thus not only does the price of gilts rise as a consequence of the Asset Purchase Facility’s initial purchases, but also the prices of a whole spectrum of other assets. That in turn lowers the cost of non-bank finance and encourages increased corporate issuance. Also the rise in asset prices increases wealth and improves balance sheets. In this way, Quantitative Easing helps to work around the blockage created by a banking system that is still undergoing a process of balance sheet repair.
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==Index and Glossary==
There is an index to the topics dealt with in the economics articles [[Economics/Related Articles|here]], and a glossary of economic terms [[Economics/Glossary|here]].


<ref>[http://www.bankofengland.co.uk/monetarypolicy/framework.htm ''Monetary Policy Framework'', Bank of England, 2009]</ref>
See also the  [[Politics/Index|'''index to the politics articles ''']].


<ref>[http://unpan1.un.org/intradoc/groups/public/documents/APCITY/UNPAN018308.pdf Arzu Çetinkaya and' Devrim Yavuz'Calculation of the Output-Inflation Sacrifice Ratio: The Case of Turkey'', The Central Bank of the Republic of Turkey, October 2002]</ref>
[[User:Nick_Gardner#Methodology|methodology]]


<ref>[http://papers.ssrn.com/sol3/papers.cfm?abstract_id=186368 Laurence Boone and Benoit Mojon: ''Sacrifice Ratio in Europe: A Comparison of France, Germany, Italy and the U.K.'', (Available at SSRN) 1999]</ref>
{|align="right" cellpadding="10" style="background-color:#FFFFCC; width:40%; border: 1px solid #aaa; margin:20px; font-size: 92%;"
|"''The European Union is something ...
very precious, not only for us in Europe, but also for the rest of the world. Because the European Union is, in fact, the result of a project for peace that brought together nations emerging from the ruins of the Second World War. It was the European Union that united them in peace around the values of respect for human dignity, freedom, democracy, justice, rule of law and respect for human rights.''"


<ref>[http://economia.unipv.it/pagp/pagine_personali/gascari/macro/ball_sacrifice%20ratio.pdf Laurence Ball: ''What Determines the Sacrifice Ratio?'', National Bureau of Economic Research, 1994]</ref>
:Merci Olsson, of Nobel Med, congratulating  President Barroso on the award of The Nobel Peace Prize t the European Union, 12 October 2012.
 
|}
<ref>[http://www.house.gov/jec/fed/fed/transpar.htm Robert E. Keleher: ''Transparency and Federal Reserve Monetary Policy '', United States Congress Joint Economic Committee, November 1997]</ref>
 
<ref>[http://www.federalreserve.gov/generalinfo/faq/faqfomc.htm ''Federal Open Market Committee: Frequently Asked Questions'', Federal Reserve Board, 2009]</ref>
 
 
 
 
<references/>

Latest revision as of 04:28, 22 November 2023


The account of this former contributor was not re-activated after the server upgrade of March 2022.


Index and Glossary

There is an index to the topics dealt with in the economics articles here, and a glossary of economic terms here.

See also the index to the politics articles .

methodology

"The European Union is something ... 
very precious, not only for us in Europe, but also for the rest of the world. Because the European Union is, in fact, the result of a project for peace that brought together nations emerging from the ruins of the Second World War. It was the European Union that united them in peace around the values of respect for human dignity, freedom, democracy, justice, rule of law and respect for human rights."
Merci Olsson, of Nobel Med, congratulating President Barroso on the award of The Nobel Peace Prize t the European Union, 12 October 2012.
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