LEADER 04408nam 2200721 450 001 9910790984003321 005 20230125221700.0 010 $a1-60649-725-1 035 $a(CKB)2550000001189424 035 $a(EBL)1598152 035 $a(SSID)ssj0001216671 035 $a(PQKBManifestationID)11713439 035 $a(PQKBTitleCode)TC0001216671 035 $a(PQKBWorkID)11197088 035 $a(PQKB)11687396 035 $a(OCoLC)869630635 035 $a(CaBNVSL)swl00403087 035 $a(Au-PeEL)EBL1598152 035 $a(CaPaEBR)ebr10830079 035 $a(CaONFJC)MIL568284 035 $a(OCoLC)868965367 035 $a(CaSebORM)9781606497258 035 $a(MiAaPQ)EBC1598152 035 $a(EXLCZ)992550000001189424 100 $a20140125d2014 fy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aMonetary policy within the IS-LM framework /$fShahdad Naghshpour 205 $aFirst edition. 210 1$aNew York, New York (222 East 46th Street, New York, NY 10017) :$cBusiness Expert Press,$d2014. 215 $a1 online resource (160 p.) 225 1 $aEconomics collection,$x2163-7628 300 $aPart of: 2013 digital library. 311 $a1-60649-724-3 311 $a1-306-37033-7 320 $aIncludes bibliographical references (pages 133-138) and index. 327 $aSection I. Background and fundamental theories -- 1. A brief history of monetary theory -- 2. Politics and monetary policy -- 3. Two blades are better than one: the role of IS- LM -- 4. The role of velocity in monetary policy -- Section II. Monetary theory and related issues -- 5. Keynes' view of monetary policy -- 6. Friedman and modern quantity theory -- 7. Discretionary policies -- Section III. Schools of thought in monetary theory -- 8. Austrian school -- 9. Rational expectations hypothesis -- 10. Inflation targeting -- Section IV. The evidence -- 11. Empirical evidence supporting monetary policy -- 12. Conclusion -- Glossary -- Notes -- References -- Index. 330 3 $aThe majority of economists, would admit that money is powerful and that changes in money will impact the economy, to some extent and most of the time. Monetary theory analyzes and determines how changes in the supply of money affect the economy. The collection of policies that use monetary tools is known as monetary policy. The main monetary authority of a country is its central bank. In the United States it is called the Federal Reserve Bank System (Fed), which is a federation of 12 Federal Reserve Banks. The Fed is responsible for initiating printing of money, monitoring the interest rate, and controlling the supply of money in the economy. Monetary authorities are shielded from executive branch interference by serving 14- year terms. This allows them to act without worrying about political fallout or fear of losing their jobs. The ability to work and function independently from political pressure has been used to claim that the supply of money is exogenous. However, the Fed acts in response to changes in the economy. It constantly monitors the economy and tries to determine the most appropriate interest rate and money supply; therefore, it is acting endogenously. The claim that the Fed's actions are endogenous does not mean that it is immune to errors, political orientations, or has full knowledge of exact amount of money necessary at every moment. Collecting and analyzing data takes time. Using monetary policy to achieve specific objectives, such as a reduction in unemployment and inflation, is even more complicated than determining the correct level of the money supply, or the most appropriate interest rate. 410 0$a2013 digital library. 410 0$aEconomics collection.$x2163-7628 606 $aMonetary policy 610 $amonetary theory 610 $amonetary policy 610 $aIS 610 $aLM 610 $aquantity theory 610 $aKeynes 610 $afiscal policy 610 $aeffectiveness of money 610 $adiscretionary policies 615 0$aMonetary policy. 676 $a332.46 700 $aNaghshpour$b Shahdad.$0890738 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910790984003321 996 $aMonetary policy within the IS-LM framework$93674121 997 $aUNINA