Difference between revisions of "Central bank"
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==Definition== | ==Definition== | ||
According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
| − | [[Central bank]]. An institution to conduct monetary policy and regulate the banking system. | + | :[[Central bank]]. An institution to conduct monetary policy and regulate the banking system. |
| + | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
| + | :[[Central bank]]. The institution responsible for the conduct of monetary policy, such as the Federal Reserve in the United States. Classical dichotomy]]. The theoretical separation of real and nominal variables in the classical model, which implies that nominal variables do not influence real variables. (Cf. neutrality of money.) | ||
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Latest revision as of 17:09, 1 July 2020
Central bank is an institution to conduct monetary policy and regulate the banking system.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Central bank. An institution to conduct monetary policy and regulate the banking system.
According to Macroeconomics by Mankiw (7th edition),
- Central bank. The institution responsible for the conduct of monetary policy, such as the Federal Reserve in the United States. Classical dichotomy]]. The theoretical separation of real and nominal variables in the classical model, which implies that nominal variables do not influence real variables. (Cf. neutrality of money.)
