E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit

• Alternative Public Spending Rules and Output Volatility

  Staff Working Paper 2002-37 Jean-Paul Lam, William Scarth

  One of the central lessons learned from the Great Depression was that adjusting government spending each year to balance the budget increases the volatility of output.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Fiscal policy, Monetary policy transmission JEL Code(s): E, E5, E52, E58, E6, E62

• Labour Markets, Liquidity, and Monetary Policy Regimes

  Staff Working Paper 2002-32 David Andolfatto, Scott Hendry, Kevin Moran

  We develop an equilibrium model of the monetary policy transmission mechanism that highlights information frictions in the market for money and search frictions in the market for labour.

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy and uncertainty, Monetary policy transmission JEL Code(s): E, E4, E5