Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/23392
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dc.contributor.authorBurdekin, Richard C. K.en_US
dc.date.accessioned2009-01-29T16:04:40Z-
dc.date.available2009-01-29T16:04:40Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/23392-
dc.description.abstractThe very low interest rates and inflation rates of recent years has generated renewed interest inalternative policies that would not leave central banks trapped by the zero lower bound on nominalinterest rates. Amongst this debate, surprisingly little attention has been paid to the possibility ofcommodity purchases by the central bank, however. Commodity-based stabilization policy was widelyadvocated during the deflationary environment prior to World War II and has been put into practice inChina and, to a more limited scale, in the United States in the form of the government?s silver purchaseprograms and the more recent utilization of the Strategic Petroleum Reserve. This paper reviews theseexperiences and considers whether there is any useful scope for commodity-based stabilization today.en_US
dc.language.isoengen_US
dc.publisher|aClaremont McKenna College, Department of Economics |cClaremont, CA-
dc.relation.ispartofseries|aWorking paper series / Claremont McKenna College |x04,05en_US
dc.subject.jelN21en_US
dc.subject.jelE42en_US
dc.subject.ddc330en_US
dc.subject.keywordmonetary policyen_US
dc.subject.keywordcommodity standarden_US
dc.subject.keywordsilveren_US
dc.subject.keywordopen market operationsen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwKonjunkturpolitiken_US
dc.subject.stwDeflationen_US
dc.subject.stwÖffentliche Beschaffungen_US
dc.subject.stwRohstoffmarkten_US
dc.subject.stwOffenmarktpolitiken_US
dc.subject.stwWirtschaftsgeschichteen_US
dc.subject.stwVereinigte Staatenen_US
dc.subject.stwChinaen_US
dc.titleNontraditional Monetary Policy Options : Is Commodity-Based Stabilization Policy Worth Another Look?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn479331731en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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