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Name: banking-johnson 1914
Format: pdf
Size: 11.58 MB

Title: Banking
Author: John Maynard Keynes
Language: polski
Year: 2024
Subjects: Business, Nonfiction
Publisher: Loudly
ISBN: 9781119748724
Total pages: 592

A Tract on Monetary Reform is a book by John Maynard Keynes, published in 1923. Keynes presented an argument in favour of a policy that would try to stabilize the domestic price level. He argued that the Bank of England had the policy tools available to provide a semblance of price stability through its stance on interest rates and its capacity to manage the reserves of the banking sector. Keynes believed that domestic price stability was accompanied by exchange rate flexibility. After years of experience, he did not favour floating exchange rates and proposed what is today called a crawling peg