c**i
发帖数: 6973 | 1 I am sorry, but the website of Financial Times (www.ft.com) is down. So I
cannot provie you with the URLS for the two articles I recommend.
There are two superb articles today in Financial Times. I won't quote either
of them, for I recommend you read the entire articles.
(1) David Pilling and Mure Dickie, BOJ Governor GivesLessons on How to Beat
Deflation Trap; Interview[:] Masaaki Shirakawa[,] Bank of Japan Governor;
Europe and the US Can Benefit from Japan's Experience. FT, Dec. 15, 2008.
http | c**i
发帖数: 6973 | 2 It seems that the position of Financial Times, if not world economists, is
Japan in 1990s offers a lesson.
(1)
(a) Krishna Guha, US Fed Slashes Rates to Near Zero; Policymakers Move into
Uncharted Waters; Decision Comes As Deflation Grows. Financial Times, Dec.
17, 2008.
(b) Fed Dips into Toolbox to Fix Long-Term Rates; With Overnight Rate Cuts
Exhausted, the Bank Has a Variety of Other Means to Reinvigorate Activity.
Financial Times, Dec. 17, 2008.
http://www.ft.com/cms/s/0/24b5a38e-cbda-11dd-b
【在 c**i 的大作中提到】
: I am sorry, but the website of Financial Times (www.ft.com) is down. So I
: cannot provie you with the URLS for the two articles I recommend.
: There are two superb articles today in Financial Times. I won't quote either
: of them, for I recommend you read the entire articles.
: (1) David Pilling and Mure Dickie, BOJ Governor GivesLessons on How to Beat
: Deflation Trap; Interview[:] Masaaki Shirakawa[,] Bank of Japan Governor;
: Europe and the US Can Benefit from Japan's Experience. FT, Dec. 15, 2008.
: http
| c**i
发帖数: 6973 | 3 I went to a library and copied the relevant paragraphs from the print
edition. I guess laypersons won't be interested but those who are curious
about economics or the economists are dying to know.
Quote:
"The fed fund rate, the overnight rate at which banks lend surplus fund to
each other, is only one of the countless interest rates that affects the
economy, though it is the normal channel by which a central bank
influencesthe other. Most loans are for much longer periods than the fed
fund rate. |
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