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Monetary in sentence

5081 examples of Monetary in a sentence

Given the role of the US dollar as the dominant global currency, the Fed’s expansionary monetary policy generates significant externalities for the rest of the world – effects that the Fed is certainly not taking into account.
The basic problem is that there are essential imperfections in an international monetary system that is based on the use of a national currency as the world’s main reserve currency.
“The stability requirements of the system as a whole,” Padoa-Schioppa argued, “are inconsistent with the pursuit of economic and monetary policy forged solely on the basis of domestic rationales.”
In particular, expansionary monetary policies in the US (indeed, in all advanced countries) are generating high risks for emerging economies.
That agenda must include two issues of global monetary reform that remain unaddressed: coordinated global regulation of capital flows in the short term, and a long-term shift toward a new international monetary system based on a true global reserve currency (possibly based on the International Monetary Fund’s Special Drawing Rights).
The US could benefit from such policies, as capital-account regulation would force investors to find opportunities at home, while a true global reserve currency would free the US from concerns – and harsh rebukes – about the implications of its monetary policy on the global economy.
At the same time, emerging markets would gain the full benefits of expansionary monetary policy in the US, to the extent that it boosts demand for their exports.
The IMF/World Bank meetings in Tokyo on October 12-13 thus might be the ideal opportunity to begin broadening the international monetary agenda – by giving the green light to coordinated regulation of cross-border capital flows, and launching a discussion about the future of the international monetary system.
If the eurozone wants to be more closely integrated, as it should be, it needs to have its own treasury and budget, to serve as a fiscal authority alongside its monetary authority, the European Central Bank.
Building a quality teaching force will require both monetary and non-monetary incentives for teachers and higher investment in their professional development.
At the same time, right-leaning economists still busy themselves arguing that the Obama administration’s fiscal policies and then-Fed Chair Ben Bernanke’s monetary policies were dangerously inflationary.
But as Christina D. Romer and David H. Romer of the University of California, Berkeley, have shown, countries throughout the post-war period that lacked the monetary or fiscal space to deal with a financial crisis often suffered from output shortfalls of 10% or more even a decade after the fact.
The eurozone, too, must resolve its internal contradictions, either by disbanding or by introducing “a minimum set of institutions and policies” that allow the monetary union to function properly.
Increased currency flexibility would allow China’s central bank to use monetary policy to enhance China’s financial and price stability.
Rather, we now know that Japan’s economic difficulties were caused by the growth, and then collapse, of a huge asset bubble, and the failure to use monetary policy to prevent deflation after the bubble burst.
Closely related to these reforms is reform of the international monetary system.
Arguably, the ideal of a well-defined and effective international monetary regime has become more difficult to realize as markets and capital flows have become vastly larger and more capricious.
But what is too often overlooked is that international monetary disorder lay at the root of the successive financial crises of the 1990’s, and played an even more striking role in the crisis that erupted in 2008.
Sooner or later, adjustment will be necessary – if not by considered domestic policy or a well-functioning international monetary system, then by financial crisis.
CDSs magnified the size of the bubble by hugely speeding up the velocity of monetary circulation.
Not only did reckless monetary accommodation set the stage for Japan’s demise; the country’s central bank compounded the problem by taking policy rates to the zero bound (and even lower), embracing quantitative easing, and manipulating long-term interest rates in the hopes of reviving the economy.
The most important lesson from the 1930s, as well as from the modern-day Japanese experience, is that monetary policy provides no answer for a chronic deficiency of aggregate demand.
The danger all along has been that open-ended unconventional monetary easing would fail to achieve traction in the real economy, and would inject excess liquidity into US and global financial markets that could lead to asset bubbles, reckless risk taking, and the next crisis.
The global economic crisis that began in 2008 exposed the deep flaws in Europe’s monetary union, though it took the near-death experience of the euro crisis of 2010-2012 to force Europe’s leaders to act, by creating a large fund to help struggling countries and establishing a banking union.
If the latter interpretation is correct, Europe’s monetary union, though still deeply flawed, has become more cohesive.
Europe, An Engine of PeaceCritics of European monetary integration often point out that, in the absence of political union, monetary union is doomed to fail.
European economic integration – in all its aspects – reflects the desire to integrate Europe politically, which, at least in my view, implies that European economic and monetary integration is irreversible.
In particular, Germany under Chancellor Helmut Kohl often linked monetary integration with the objective of political union.
For this reason, I do not agree with those who argue that Germany’s support for European monetary integration was the price it paid for Europe’s acceptance of German reunification.
On the contrary, the historical record shows that Germany made the case for a parallel drive to monetary and political integration well before the fall of the Iron Curtain.
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