FACTOID # 140: In Switzerland, the average person has to work for 102 minutes to buy a kilogram of beef - one of the longest times in the developed world. On the other hand, they only have work 14 hours to buy a refrigerator for it.
 
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Encyclopedia > Monetary economics

Central Bank or Finance Ministry based economics where the interest rate plays a pivotal role in the cost of money and the amounts banks must hold in their reserves. Very important when international economics and currencies interplay as arbitrage creates business opportuniteis and the capital accounts or country balance of payments get effected once currency trading occurs, given differing interest rates and exchange rates. KF


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Monetary Policy, by James Tobin: The Concise Encyclopedia of Economics: Library of Economics and Liberty (3347 words)
Monetary policy is the subject of a lively controversy between two schools of economics, monetarist and Keynesian.
They regarded active monetary stimulus as dangerously inflationary, even when their economies were barely emerging from recession.
Monetary and fiscal policies are distinct only in financially developed countries, where the government does not have to cover budget deficits by printing money but can sell obligations to pay money in the future, like U.S. Treasury bills, notes, and bonds.
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