Bis research paper 136


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You can change your cookie settings at any time. A Brexit deal has been agreed but needs to be ratified Find out what this means for you. Considers global market opportunities for UK industry in smart city technology across 5 themes.

BIS Research Paper number The study explores the market structure and size, the trends in the market, and global regional highlights for smart cities. Registered: David Laidler. Recent financial instability has called into question the sufficiency of low inflation as a goal for monetary policy. This paper discusses interwar literature bearing on this question. It begins with theories of the cycle based on the quantity theory, and their policy prescription of price stability supported by lender of last resort activities in the event of crises, arguing that their neglect of fluctuations in investment was a weakness.

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Other approaches are then taken up, particularly Austrian theory, which stressed the banking system's capacity to generate relative price distortions and forced saving. This theory was discredited by its association with nihilistic policy prescriptions during the Great Depression. Nevertheless, its core insights were worthwhile, and also played an important part in Robertson's more eclectic account of the cycle. The latter, however, yielded activist policy prescriptions of a sort that were discredited in the postwar period.

Whether these now need re-examination, or whether a low-inflation regime, in which the authorities stand ready to resort to vigorous monetary expansion in the aftermath of asset market problems, is adequate to maintain economic stability is still an open question.

BIS RESEARCH PRES.

Handle: RePEc:bis:biswps as. More about this item Keywords price level ; relative prices ; economic stability ; interwar debate ; Statistics Access and download statistics.

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Corrections All material on this site has been provided by the respective publishers and authors. Louis Fed. Issue 13, Previous Article Next Article. From the journal: Chemical Society Reviews.

Dendritic architectures based on bis-MPA: functional polymeric scaffolds for application-driven research. This article is Open Access.

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Smart city market: UK opportunities

Please wait while we load your content Something went wrong. Try again? Cited by. Back to tab navigation Download options Please wait Article type: Review Article.

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DOI: Download Citation: Chem. Dendritic architectures based on bis-MPA: functional polymeric scaffolds for application-driven research A.

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Carlmark, E. Malkoch, Chem. Search articles by author Anna Carlmark.

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bis research paper 136 Bis research paper 136

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