Carney is among several central bankers to urge politicians to use the state's financial muscle to boost investment and growth rather than rely on monetary policy.
This, he says, is why factors that alter a person's perception or motivation (monetary rewards, for example) can affect performance, even without any change in muscle capacity.
Imagine a family firm with the financial muscle of Merrill Lynch, Morgan Stanley, J. P. Morgan, Goldman Sachs and the International Monetary Fund rolled into one.
Therefore, in Condition 1 and Condition 2 FDI muscle involvement in pushing the sphere was coupled with a monetary reward.
One of the aims of the present work was to verify if different levels of social capital modulates muscle involvement of the pushing subjects, in response to different monetary incentives among conditions.
Thus, in all trials, FDI muscle involvement in pushing the sphere was not associated with any specific monetary reward.
The state will also inject the monetary equivalent of 5 billion barrels of oil into Petrobras, with the aim of ensuring it has the financial muscle to remain the dominant operator.
Journal of Monetary Economics.
(See also monetary policy).
