We study alternative institutional arrangements for the determination of monetary policy in a general equilibrium model with heterogeneous agents, where monetary policy has redistributive effects.
Instead, the members of the European monetary union expressed their determination to complete a planned expansion of a European bailout fund, so that it can purchase the debt of troubled countries.
At such times, two things will be needed: a willingness to leave Mr Greenspan or his successor at the Fed alone to sort out the monetary consequences; and a determination to avert a protectionist response in Congress, as unemployment rises and the trade deficit hangs heavily.
Productivity growth is said to be one of the key economic indicators considered by Fed chief Alan Greenspan in the determination of monetary policy.
"This shows the firm determination of monetary authorities to keep the exchange rate from slipping further," said Andre Perfeito, chief economist at Gradual Investments in Sao Paulo.
Her faith in the central bank's unconventional policies, and her determination to keep monetary conditions loose, should support growth.
And as with all cults, the failure of prophecy — in this case, the prophecy of soaring inflation from deficits and monetary expansion — only strengthens the determination of the faithful to uphold the faith.
And so I can tell you that the first objective of the new government has been the determination to ensure monetary and fiscal stability, in place of stop go, and to do so in an economy far more open than the sheltered national economics of the past".
And with Britain's forward looking and pre-emptive approach to monetary policy we are showing our determination to maintain both a sustained economic recovery and stability, remaining vigilant at all times.
Although the decision initially disappointed investors, analysts said it reflected the Fed's determination to separate basic monetary policy from the specific credit and cash problems on Wall Street.
