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Richard Werner
Richard Andreas Werner (born 5 January 1967) is a German banking and development economist who is a university professor at De Montfort University. He has proposed the "Quantity Theory of Credit", or "Quantity Theory of Disaggregated Credit", which disaggregates credit creation used for the real economy (GDP transactions) on the one hand, and financial transactions on the other hand. In 1995, he proposed a new monetary policy to swiftly deal with banking crises, which he called 'Quantitative Easing', published in the Nikkei. He also first used the expression "QE2" in public, referring to the need to implement 'true quantitative easing' as an expansion in credit creation. His 2001 book 'Princes of the Yen' was a number one general bestseller in Japan. In 2014 he published the first empirical evidence that each bank creates credit when it issues a new loan. Early life In 1989, Werner earned a BSc in economics at the London School of Economics (LSE). During his postgraduate studies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German People
, native_name_lang = de , region1 = , pop1 = 72,650,269 , region2 = , pop2 = 534,000 , region3 = , pop3 = 157,000 3,322,405 , region4 = , pop4 = 21,000 3,000,000 , region5 = , pop5 = 125,000 982,226 , region6 = , pop6 = 900,000 , region7 = , pop7 = 142,000 840,000 , region8 = , pop8 = 9,000 500,000 , region9 = , pop9 = 357,000 , region10 = , pop10 = 310,000 , region11 = , pop11 = 36,000 250,000 , region12 = , pop12 = 25,000 200,000 , region13 = , pop13 = 233,000 , region14 = , pop14 = 211,000 , region15 = , pop15 = 203,000 , region16 = , pop16 = 201,000 , region17 = , pop17 = 101,000 148,00 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bear Stearns
The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase. The company's main business areas before its failure were capital markets, investment banking, wealth management, and global clearing services, and it was heavily involved in the subprime mortgage crisis. In the years leading up to the failure, Bear Stearns was heavily involved in securitization and issued large amounts of asset-backed securities which were, in the case of mortgages, pioneered by Lewis Ranieri, "the father of mortgage securities". As investor losses mounted in those markets in 2006 and 2007, the company actually increased its exposure, especially to the mortgage-backed assets that were central to the subprime mortgage crisis. In March 2008, the Federal Reserve Bank of New York provided an emergency loan to try to avert a su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Cambridge
, mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Scholars of the University of Cambridge , type = Public research university , endowment = £7.121 billion (including colleges) , budget = £2.308 billion (excluding colleges) , chancellor = The Lord Sainsbury of Turville , vice_chancellor = Anthony Freeling , students = 24,450 (2020) , undergrad = 12,850 (2020) , postgrad = 11,600 (2020) , city = Cambridge , country = England , campus_type = , sporting_affiliations = The Sporting Blue , colours = Cambridge Blue , website = , logo = University of Cambridge log ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employment Appeal Tribunal
The Employment Appeal Tribunal is a tribunal in England and Wales and Scotland, and is a superior court of record. Its primary role is to hear appeals from Employment Tribunals in England, Scotland and Wales. It also hears appeals from decisions of the Certification Officer and the Central Arbitration Committee and has original jurisdiction over certain industrial relations issues. The tribunal may sit anywhere in Great Britain, although it is required to have an office in London. It is part of the UK tribunals system, under the administration of His Majesty's Courts and Tribunals Service. The tribunal may not make a declaration of incompatibility under the Human Rights Act 1998. Membership There are two classes of members of the tribunal: *Nominated members, who are appointed from English and Welsh circuit judges, judges of the High Court and the Court of Appeal as well as at least one judge from the Court of Session. *Appointed members, who must have special knowledge or ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Bonds
A government bond or sovereign bond is a form of bond issued by a government to support public spending. It generally includes a commitment to pay periodic interest, called coupon payments'','' and to repay the face value on the maturity date. For example, a bondholder invests $20,000, called face value or principal, into a 10-year government bond with a 10% annual coupon; the government would pay the bondholder 10% interest each year and repay the $20,000 original face value at the date of maturity (i.e. after 10 years). Government bonds can be denominated in a foreign currency or the government's domestic currency. Countries with less stable economies tend to denominate their bonds in the currency of a country with a more stable economy (i.e. a hard currency). When governments with less stable economies issue bonds, there is a possibility they will be unable to repay bondholders, resulting in a default. All bonds carry a default risk. International credit rating agencies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
M2 (economics)
In macroeconomics, the money supply (or money stock) refers to the total volume of currency held by the public at a particular point in time. There are several ways to define "money", but standard measures usually include currency in circulation (i.e. physical cash) and demand deposits (depositors' easily accessed assets on the books of financial institutions). The central bank of a country may use a definition of what constitutes legal tender for its purposes. Money supply data is recorded and published, usually by a government agency or the central bank of the country. Public and private sector analysts monitor changes in the money supply because of the belief that such changes affect the price levels of securities, inflation, the exchange rates, and the business cycle. The relationship between money and prices has historically been associated with the quantity theory of money. There is some empirical evidence of a direct relationship between the growth of the money supp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Supply
In macroeconomics, the money supply (or money stock) refers to the total volume of currency held by the public at a particular point in time. There are several ways to define "money", but standard measures usually include Circulation (currency), currency in circulation (i.e. physical cash) and demand deposits (depositors' easily accessed assets on the books of financial institutions). The central bank of a country may use a definition of what constitutes legal tender for its purposes. Money supply data is recorded and published, usually by a government agency or the central bank of the country. Public sector, Public and private sector analysts monitor changes in the money supply because of the belief that such changes affect the price levels of Security (finance), securities, inflation, the exchange rates, and the business cycle. The relationship between money and prices has historically been associated with the quantity theory of money. There is some empirical evidence of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetarism
Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation. Monetarist theory asserts that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy.Phillip Cagan, 1987. "Monetarism", '' The New Palgrave: A Dictionary of Economics'', v. 3, Reprinted in John Eatwell et al. (1989), ''Money: The New Palgrave'', pp. 195–205, 492–97. Monetarism is commonly associated with neoliberalism. Monetarism today is mainly associated with the work of Milton Friedman, who was among the generation of economists to reject Keynesian economics and criticise Keynes's theory of fighting economic downturns using fiscal policy (government spending). Friedman and Anna ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nihon Keizai Shinbun
''The Nikkei'', also known as , is the flagship publication of Nikkei, Inc. (based in Tokyo) and the world's largest financial newspaper, with a daily circulation exceeding 1.73 million copies. The Nikkei 225, a stock market index for the Tokyo Stock Exchange, has been calculated by the newspaper since 1950. It is one of the four national newspapers in Japan; the other three are '' The Asahi Shimbun'', the '' Yomiuri Shimbun'' and the '' Mainichi Shimbun''. History The roots of the Nikkei started with an in-house newspaper department of Mitsui & Company in 1876 when it started publication of ''Chugai Bukka Shimpo'' (literally ''Domestic and Foreign Commodity Price Newspaper''), a weekly market-quotation bulletin. The department was spun out as the ''Shokyosha'' in 1882. The paper became daily (except Sunday) in 1885 and was renamed ''Chugai Shōgyō Shimpo'' in 1889. It was merged with ''Nikkan Kōgyō'' and ''Keizai Jiji'' and renamed ''Nihon Sangyō Keizai Shimbun'' in 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Theory Of Money
Credit theories of money, also called debt theories of money, are monetary economic theories concerning the relationship between credit and money. Proponents of these theories, such as Alfred Mitchell-Innes, sometimes emphasize that money and credit/debt are the same thing, seen from different points of view. Proponents assert that the essential nature of money is credit (debt), at least in eras where money is not backed by a commodity such as gold. Two common strands of thought within these theories are the idea that money originated as a unit of account for debt, and the position that money creation involves the simultaneous creation of debt. Some proponents of credit theories of money argue that money is best understood as debt even in systems often understood as using commodity money. Others hold that money equates to credit only in a system based on fiat money, where they argue that all forms of money including cash can be considered as forms of credit money. The first form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schumpeter
Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian-born political economist. He served briefly as Finance Minister of German-Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship. Schumpeter was one of the most influential economists of the early 20th century, and popularized the term "creative destruction", which was coined by Werner Sombart. Early life and education Schumpeter was born in Triesch, Habsburg Moravia (now Třešť in the Czech Republic, then part of Austria-Hungary) in 1883 to German-speaking Catholic parents. Both of his grandmothers were Czech. Schumpeter did not acknowledge his Czech ancestry; he considered himself an ethnic German. His father owned a factory, but he died when Joseph was only four years old. In 1893, Joseph and his mother moved to Vienna. Schumpeter was a loyal supporter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quantity Theory Of Credit
Quantity or amount is a property that can exist as a multitude or magnitude, which illustrate discontinuity and continuity. Quantities can be compared in terms of "more", "less", or "equal", or by assigning a numerical value multiple of a unit of measurement. Mass, time, distance, heat, and angle are among the familiar examples of quantitative properties. Quantity is among the basic classes of things along with quality, substance, change, and relation. Some quantities are such by their inner nature (as number), while others function as states (properties, dimensions, attributes) of things such as heavy and light, long and short, broad and narrow, small and great, or much and little. Under the name of multitude comes what is discontinuous and discrete and divisible ultimately into indivisibles, such as: ''army, fleet, flock, government, company, party, people, mess (military), chorus, crowd'', and ''number''; all which are cases of collective nouns. Under the name of magnitude ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
