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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.
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For instance, what collective end must participants in a monetary practice share?
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.
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".
Add in monetary issues, foreign trade practices and sanctions to complete the picture.
The decision put the future of stock trading in Europe in disarray and reflected the frustrations of melding financial markets with differing regulations, practices and monetary systems.
"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".
A discussion paper by the Federal Reserve economists Shagihil Ahmed, Andrew Levin and Beth Anne Wilson suggested recently that good luck, more than monetary policy or business practices, was the main reason the business cycle was so tame from the mid-1980's to 2000.
You could say that over-expansionist fiscal and monetary policies (and lax practices by the banking community) fuelled an unsustainable consumer boom, and that China merely took advantage of that by selling the Americans the stuff they wanted.
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CEO of Professional Science Editing for Scientists @ prosciediting.com