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(2007, 2500 words)
The paper addresses the issues of the so-called green taxation, or Ecological Tax (Ecotax) in the UK reporting on the taxes that aroused debate, discussing Gordon Brown's current "Green Tax Budget", its implications for large businesses, etc. Financial approaches to starting a new business venture are reviewed.
(2007, 3500 words)
The paper examines the correlation between inflation and unemployment analyzing the Friedman model, the model of Imperfect Competition, the relationship between the level of unemployment and the bargained real wage, the issues of price setting, Phillips curves, etc.
(2006, 12 000 words)
The dissertation examines the policy of the Central Bank of Pakistan. The bank's history is related; literature is reviewed on the theory of monetary policy, open market operations, regulation of credit, etc. Monetary channels in Pakistan are defined; the monetary policy of 2005-2006 is described; determinants of monetary transmission mechanism in Pakistan are examined on the basis of the country's key economic indicators. Conclusions are made about the policy instruments used by the Central Bank of Pakistan to pursue monetary policy objectives.
(2006, 4000 words)
The discussion will be based on the argument of traditional economic theory according to which the main ingredient required to preserve the purchasing power of money is Central Bank Independence (CBI). After a brief review of the basic concepts of monetary theory, and the review of the theoretical foundation of CBI, it will be discussed how various institutional and legal arrangements can ensure different degrees of CBI, and how an independent CB can affect the potential to reach the goal of price stability. It is also discussed another issue related to CBI, i.e. CBs' accountability.
(2006, 2000 words)
The paper examines the relationship between inflation and unemployment analysing Phillips curve and its adaptations to the changing economic environment known as the short-run Phillips curve (SRPC) and the long-run Phillips curve (LRPC). The Aggregate Supply-Aggregate Demand (AS-AD) model is discussed; factors determining the natural rate of unemployment are identified.
(2002, 2100 words)
The paper provides the main principals of Philips Curve.
(2006, 3500 words)
The following research provides an overview of the theoretical underpinnings of the Purchasing Power Parity model. It presents a detailed walk-through the main conclusions and implication of Purchasing Power Parity theory and thoroughly discusses the result of the empirical application of the model. The special focus is given to discussion of the link between changes in the price level and exchange rate.
(2006, 2000 words)
The paper examines the monetary policy of inflation targeting (IT) reviewing its advantages, the difficulties associated with IT, the approaches of the central bank to targeting the forecast of inflation, etc.
(2006, 3000 words)
The paper examines the impacts of the reforms in the Chinese financial system that have been introduced since late 1970s presenting an overview of the Chinese banking system, reforms’ targets and the stages in their implementation. The current situation in the financial system of China is assessed.
(2006, 2000 words)
The paper examines the issues of inflation and price stability reviewing related academic literature and discussing the strategy of stability-oriented monetary policy introduced by the European Central Bank (ECB). The advantages and disadvantages of price stability are outlined.
(2006, 1500 words)
The paper examines the relationship between inflation and unemployment discussing two contradictory governmental policies, i.e. the fiscal policy and the monetary policy. Keynesian approach to inflation and the Philips curve model are reviewed.
(2006, 2400 words)
The present paper discusses the role of Central Bank and its degree of involvement in macroeconomic development of a country. The paper considers such dimensions of the involvement as macroeconomic stability, role of Central Bank as forecasting body of further economic development, Central bank as Last Lend Resort and regulatory functions of financial system
(2005, 4500 words)
The paper examines the position of central banks as the lender of last resort reviewing the theory of money, the influence of central banks on money supply and the country’s economy, monetary policy tools, reserve and capital requirements, etc. Examples of central banks’ objectives and monetary policy are given.
(2006, 2000 words)
The paper examines the inverse relationship between inflation and unemployment, known as the Phillips Curve, offering a review of definitions of inflation, the rationale behind the Phillips Curve model, its short run and long run applicability, the factors behind unemployment, etc.
(2005, 2000 words)
The paper examines the issues of central banks independence from governments reviewing theories of differentiation between nations on the principle of central banks independence and establishing links between independent central banks and federalism, majoritarian democracies, government partisanship, countries bureaucratic structure, etc. The theories are compared outlining their strengths and weaknesses.
(2006, 2000 words)
The paper examines the role of monetary policymakers in reducing and stabilising inflation reviewing the factors they must focus on, i.e. the output gap, the Taylor Principle, future forecasts of economic conditions, etc.
(2005, 2500 words)
The paper reviews the problems related to inflation discussing scientific approaches to monetary policy, the credibility of the monetary policymakers, output gap, the Taylor principle, future prospects for monetary authorities, etc.
(2005, 3000 words)
The paper analyses the factors behind inflation identifying the main determinants of the UK short run fluctuations in inflation over the past 25 years. Economic theories of inflation are reviewed highlighting the variables of unit wage cost, employment levels, and interest rates and analyzing their correlation and influence on UK inflation rates.
(2004, 4900 words)
This paper attempts to bring an analytical perspective to the economic theories of the Central Bank. This investigation will show the theoretical aspects of the money supply process and how they relate to the monetary and fiscal policy of each country. Once the participants in determining the money supply are defined, our focus will turn to a thorough analysis with regards to the goals, targets, tools and policies of the various central banks.
(2005, 1000 words)
The paper looks at the position of central banks discussing the implications of their dependence on the government. The relation between central banks independence, inflation levels and accountability are analysed; its positive and negative impacts on the government are discussed.
(2004, 2800 words)
In this paper we talk about the history of inflation rates in the United Kingdom with regard to factors underlying policies that were adopted by both the Conservative party, under Margaret Thatcher and the Labour party, before the present Chancellor, Gordon Brown, and the new policies adopted by him. We also look at the issue of Britain leaving the ERM, which lead to an economic recession, and the inept independence giving to the Bank of England in relation to its control of inflation rates by the Labour party, when it came into power in 1997. Additionally, we talk about the various procedures that members of the Monetary Policy Committee have to adhere to.
(2005, 2000 words)
The paper examines the theoretical aspects of Central Bank (CB) independence. The CB objectives in minimising the problems of inflation and unemployment are discussed; the 'government loss function' and the 'public reaction function' are commented on. The correlation between an index of central bank independence and inflation is subject to analysis.
(2003, 9000 words)
The dissertation looks at the concept of bank independence presenting a survey of theoretical studies devoted to independent central banks, monetary policy, etc. The inverse relationship between central bank independence and the levels of inflation is discussed. Two indices, namely, Grilli, Masciandaro and Tabellini index and Bade and Parkin index are used to prove this assumption. The conclusion is made about the need of developing new updated indices to determine a relationship between central banking and levels of inflation.
(2004, 2000 words)
The paper seeks to understand why some governments are still reluctant to enhance their Central Banks' independence (CBI). Central banks help to implement the monetary policy that is used by governments to ensure price stability and low inflation rates. The paper presents evidence that a higher degree of CBI leads to a greater price stability. The situation in the UK is described where the central bank implements government policy, although it is independent from the government by law. The examples of the relationships between governments and their central banks in other countries are given to show the reasons for the governments' concern about the level of CBI. The main areas of concern are outlined.
(2004, 4600 words + PowerPoint Presentation,)
In this paper it is discussed whether the ECB activity in price stability within the euro area is effective. This is made by comparing the ECB with other central banks, the Bank of England (BOE) and the Federal Reserve (Fed) in terms of interest rate decisions, inflationary performance in both the domestic and international climates, and sensitiveness to economic and social factors. First, the ECBs background and basic duties are explained, next the monetary policy and the banks strategy are examined. After comparing with the other two banks and analysis, recommendations to further strategy to cope with entry of new member states are given. Finally, the paper concludes about the idea of ´one rate to rule them allŽ and the ECBs capability to cope with the price regulations.
(2003, 3600 words)
The paper using the data for the 1976-2000 examines the Philips Curve
(2003, 2500 words)
This essay looks at the global trend towards greater Central bank Independence, it distinguishes between the different degrees of Central bank independence and makes a case for and against the both types of Central Independence based on theory and empirical evidence. It identifies which countries should adopt the different levels of Central Bank Independence based on their structure and level of credibility given to their individual Central Banks. Particular reference is given to Bundesbank, European Central Bank, Bank of England and other core Central Banks.
(2002, 2700 words)
The current rates of inflation in the UK are historically low. The paper describes the monetary policy transmission mechanism, linking monetary policy to inflation. And the paper analyses how the reduction in the average rate of inflation can be explained.
(2004, 2100 words)
Since its inception, the UK inflation target has been redefined. The paper discusses whether the current target of 2.5% preferable to the original target of 1% - 4%. Also the paper analyses whether there any arguments for further changes to the target.
(2003, 2600 words)
The paper discusses the advantages and disadvantages of currency boards as an alternative instrument of the central banks
(2003, 11500 words)
The dissertation aims to analyse and discuss the different reasons and causes of hyperinflation in particular in German economy after the World War One. (Further information is available on the request)
(2003, 700 words)
The short report about the experience of UK of inflation in the 1990s
(2002, 2300 words)
Conclusion
The quantity theory of money, both for simple and general demand for money functions, implies that the any changes in the money stock not matched by changes in the output will be observed in changed prices. Empirical evidence provides solid support for this theoretical insight and allows one to conclude that money indeed causes inflation in the long run. In this model prices serve as the equilibrating variable over the long run between the demand and the supply of money. Supply of the monetary stock is controlled by the monetary writerities and is not determined within the system, thus it can not be determined because it is given exogenously. Therefore the claim that inflation causes money is false in the long run.
(2003, 2100 words)
This paper looks at the functions of central banks and analyses the ways in
which the money supply and interest rates could be controlled.
There are four diagrams in this report: Effect of a rise in
UK interest rates; The Effect of Interest Rate on GDP and Employment;
Effect of Interest Rates on Expenditure and GDP; Effect of Expansionary
Monetary Policy on Interest Rate and Effect of Monetary Policy
on Inflation.
(2003, 1600 words)
Amongst the industrialised economies, inflation over the last 30 years has averaged lower in nations with independent central banks. This essay will begin by defining the term independence. It will then draw on a theoretical framework developed by King to explain why independent central banks may be in a better position to achieve low and sustainable levels of inflation by influencing expectations. The analysis will then touch on possible sources of tension between independent central banks and the governments under which they operate. The essay will finish by reviewing empirical findings on the association between greater central bank independence and average inflation.
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