News programmes spat theories ranging from Eurozone fears, slack monetary policy and collective memories of 2008, to Cramer's "broken machines" notion or a "fat finger" incident, in which some hapless trader typed "billion" instead of "million" and spooked the herd.
Ms Yellen and Mr Akerlof also demonstrated how firms and individuals might rationally decline to adjust wages or prices in response to a monetary shock, and that collective behaviour would produce recessions.
This ideal incorporates three intersectional elements, namely collective decision-making, monetary transfers, and emotional communication.
Whereas Greenspan placed himself first, and was interested in officials to follow, Bernanke has sought a more collective approach to monetary policy.
Second, we have ignored work on interactions between collective bargaining and monetary and fiscal policy, such as that between coordinated wage bargaining and central bank independence (for a compact survey of which, see Aidt and Tzannatos 2008, pp. 286 290).
The remarks by the official, Masahiro Kawai, represented the first time that the bank — or for that matter, any important monetary institution in Asia — had urged collective action by East Asian nations to manage the current slide of the dollar.
And as the British Government has been arguing for a year now that means following the logic of monetary union towards solutions that deliver greater forms of collective support and collective responsibility of which Eurobonds are one possible example.
Collective international decisions at the United Nations, International Monetary Fund and elsewhere often require compromise, and sometimes the decisions need to be made quickly.
It's our collective commitment to a trust-minimized monetary system that makes Bitcoin strong.
For instance, what collective end must participants in a monetary practice share?
In addition, good diary return rates can be achieved using a monetary incentive and the diary format allows for collective recording, rather than an individual's estimation, of household water usage.
