Or was it simply a contingent fact based on our particular monetary practices?There are several large pipes involved in this particular policy dream, and even it would not banish recessions forever.
Policy makers are now focusing almost as much on inflation as they are on economic growth; in Asia, in particular, higher than expected inflation is leading policy makers to consider tighter monetary practices.
Serious attempts have been made to put a countercyclical monetary policy into practice in most advanced industrialized countries since the middle of the 1950s.
Mujtaba Rahman, an analyst for Europe at the Eurasia Group, said in e-mailed comments that the E.C.B.'s announcement should prove important in stabilizing sentiment in the near term, but that "many serious challenges exist regarding the execution and implementation of the bank's new Outright Monetary Transactions in practice".
The AWW and ASHA surveys provide information on demographics, education, experience, knowledge, training, available equipment and resources, recordkeeping practices, monetary incentives, and the monitoring, support, and supervision they received.
Slovak leaders are convinced that the only path to prosperity involves adopting western practices on everything from monetary policy to accounting practices and bankruptcy law.
"But it's a good result in that there has been much media attention to the illegality of such retention practices, real monetary consequences and promises to cease all such practices in the future".
In practice, setting monetary policy rarely comes down to one equation.
At some point, as good judges exchange their robes for the monetary rewards of private practice, few but the rich or less qualified will want to replace them.
First, over the last 30 years interest-rate cuts and other forms of expansionary monetary policy became standard practice in the face of potential financial market disruption — this is the original meaning of the "Greenspan put".
