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Full Presentation: Central Banks' Securities Purchases' Effect on Investment
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Manage episode 185269401 series 1036955
Content provided by Law and Economics Podcast with Bryane Michael and Bryane Michael. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Law and Economics Podcast with Bryane Michael and Bryane Michael or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Why don't central banks buy our companies' stocks and bonds? Should they fund mostly governments? And expand credit through banks? We look at central banks' role as a "funder of last resort." We find that investment increases when central banks buy private sector assets - except under a certain "sloth effect." We describe how law fails to give central banks the authority they need - and show how drafting a nominal GDP target objective directly into the central bank law helps promote investment and growth. For more: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3023795
…
continue reading
87 episodes
M4A•Episode home
Manage episode 185269401 series 1036955
Content provided by Law and Economics Podcast with Bryane Michael and Bryane Michael. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Law and Economics Podcast with Bryane Michael and Bryane Michael or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Why don't central banks buy our companies' stocks and bonds? Should they fund mostly governments? And expand credit through banks? We look at central banks' role as a "funder of last resort." We find that investment increases when central banks buy private sector assets - except under a certain "sloth effect." We describe how law fails to give central banks the authority they need - and show how drafting a nominal GDP target objective directly into the central bank law helps promote investment and growth. For more: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3023795
…
continue reading
87 episodes
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