Monetary policy against austerity? with Daniela Gabor
Crash Course Economics
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Exploring Monetary Financing Regimes
The chapter delves into the historical shift in central banks' engagement in monetary financing, tracing the trend from increased involvement during the World War II era to a decline starting from the 1980s. It highlights the transition towards financial capitalism, marked by central banks' independence and reduced monetization of government debt. The discussion emphasizes the concept of monetary financing regimes, distinguishing between promotional and prudential monetary financing.
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