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Despite its expansive use since then, many still see it as an exotic and possibly dangerous monetary tool.
The possibility of using a nominal output or income target as a monetary tool is not a new one, but it was almost entirely off the radar and out of the discussion before Mr Sumner began his crusade.
Because the government so far has refused to wield one effective monetary tool — loosening its control of currency exchange rates — regulators have been forced to rely on bank reserve limits, changes in interest rates and other indirect measures to save the economy from inflation and overexpansion.
Because the government so far has refused to wield one effective monetary tool -- loosening its control of currency exchange rates -- regulators have been required to rely on bank reserve limits, changes in interest rates and other indirect measures to save the economy from inflation and overexpansion.
Using the economy as a monetary tool is dangerously preposterous.
Non-disordered EGM players were randomly assigned to experience the HCI and PSD inspired or the standard monetary tool prior to gambling in a virtual realty casino.
Similar(54)
With rates so low, the central bank appears to have few monetary tools at its disposal.
The Fed has additional monetary tools available, but is obviously reluctant to use them.
Unconventional monetary tools were only rarely used before the crisis, which means the sample size of case studies is small.
"If we enter into a deflationary period, we won't have the monetary tools to sort it out," Mr. Carbó said.
But for the Finns, as for everyone else, the single currency took away the two main monetary tools a country can use to manage its economy.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com