Charles A E Goodhart
Biographic Data
| ID | 3713867 |
|---|---|
| NAME | Charles A E Goodhart |
| GIVEN NAMES | Charles A E |
| FAMILY NAME | Goodhart |
| SIGNATURE | GOODHART C A E |
| AFFILIATIONS | Financial Markets Group, LSE and CEPR UK |
| VERIFIED | No |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 15 |
| WORKS AS AUTHOR | 8 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1988 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 1 |
Support for small businesses amid Covid‐19
How should the government support small and medium‐sized enterprises amid a pandemic crisis while balancing the trade‐off between short‐run stabilization and long‐run allocative efficiency? We develop a two‐sector equilibrium model featuring small businesses with private information on their likely future success and a screening contract. Businesses in the sector adversely affected by a pandemic can apply for government loans to stay afloat. A pr…
Wilhelm Lautenbach’s credit mechanics – a precursor to the current money supply debate
This article assesses the theory of credit mechanics within the context of the current money supply debate. Credit mechanics and related approaches were developed by a group of German monetary economists during the 1920s-1960s. Credit mechanics overcomes a one-sided, bank-centric view of money creation, which is often encountered in monetary theory. We show that the money supply is influenced by the interplay of loan creation and repayment rates;…
The two concepts of money
What Should Central Banks Do? What Should Be Their Macroeconomic Objectives and Operations
Journal Article What Should Central Banks Do? What Should Be Their Macroeconomic Objectives and Operations? Get access Charles A. E. Goodhart Charles A. E. Goodhart Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 104, Issue 427, 1 November 1994, Pages 1424–1436, https://doi.org/10.2307/2235461 Published: 01 November 1994
The free banking challenge to central banks
The numerous historical episodes of free banking have invariably ended in the establishment of central banking. Was the failure of free banking due to “theory,” “seignorage”—the attempt by governments to use central banks for revenue purposes—or to “crises”? Would a free banking system be stable, free of crises? This is the crux of the theoretical and historical debate
Does the Forward Premium/Discount Help to Predict the Future Change in the Exchange Rate
This paper reexamines the relationship between the spot exchange rate depreciation and the forward premium. Many researchers report a negative, and occasionally significant, coefficient when the spot depreciation is regressed on the forward premium. The authors' analysis reveals that such findings are due to the presence of structural breaks and/or outliers in the data. After allowing for these, the forward premium has no information at all about…
Why Don't Individuals Speculate in the Forward Foreign Exchange Market
It is shown, using institutional evidence, economic theory, and empirical evidence, that, given reasonable estimates of individuals' coefficients of relative risk aversion, the combination of riskiness, minimal size of contract, and transactions costs will deter all but the wealthiest individuals from seeking to speculate in the forward foreign exchange market. Copyright 1992 by Scottish Economic Society
Alternative Monetary Regimes
What Should Central Banks Do? What Should Be Their Macroeconomic Objectives and Operations
Journal Article What Should Central Banks Do? What Should Be Their Macroeconomic Objectives and Operations? Get access Charles A. E. Goodhart Charles A. E. Goodhart Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 104, Issue 427, 1 November 1994, Pages 1424–1436, https://doi.org/10.2307/2235461 Published: 01 November 1994
Alternative Monetary Regimes
Does the Forward Premium/Discount Help to Predict the Future Change in the Exchange Rate
This paper reexamines the relationship between the spot exchange rate depreciation and the forward premium. Many researchers report a negative, and occasionally significant, coefficient when the spot depreciation is regressed on the forward premium. The authors' analysis reveals that such findings are due to the presence of structural breaks and/or outliers in the data. After allowing for these, the forward premium has no information at all about…
Why Don't Individuals Speculate in the Forward Foreign Exchange Market
It is shown, using institutional evidence, economic theory, and empirical evidence, that, given reasonable estimates of individuals' coefficients of relative risk aversion, the combination of riskiness, minimal size of contract, and transactions costs will deter all but the wealthiest individuals from seeking to speculate in the forward foreign exchange market. Copyright 1992 by Scottish Economic Society
What Should Central Banks Do? What Should Be Their Macroeconomic Objectives and Operations
Journal Article What Should Central Banks Do? What Should Be Their Macroeconomic Objectives and Operations? Get access Charles A. E. Goodhart Charles A. E. Goodhart Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 104, Issue 427, 1 November 1994, Pages 1424–1436, https://doi.org/10.2307/2235461 Published: 01 November 1994
The free banking challenge to central banks
The numerous historical episodes of free banking have invariably ended in the establishment of central banking. Was the failure of free banking due to “theory,” “seignorage”—the attempt by governments to use central banks for revenue purposes—or to “crises”? Would a free banking system be stable, free of crises? This is the crux of the theoretical and historical debate
The two concepts of money
Wilhelm Lautenbach’s credit mechanics – a precursor to the current money supply debate
This article assesses the theory of credit mechanics within the context of the current money supply debate. Credit mechanics and related approaches were developed by a group of German monetary economists during the 1920s-1960s. Credit mechanics overcomes a one-sided, bank-centric view of money creation, which is often encountered in monetary theory. We show that the money supply is influenced by the interplay of loan creation and repayment rates;…
Support for small businesses amid Covid‐19
How should the government support small and medium‐sized enterprises amid a pandemic crisis while balancing the trade‐off between short‐run stabilization and long‐run allocative efficiency? We develop a two‐sector equilibrium model featuring small businesses with private information on their likely future success and a screening contract. Businesses in the sector adversely affected by a pandemic can apply for government loans to stay afloat. A pr…
Economics (8 works) · Monetary economics (6 works) · Banking stability, regulation, efficiency (4 works) · Economic theories and models (4 works) · Global Financial Crisis and Policies (4 works) · Keynesian economics (4 works) · Monetary policy (4 works) · Central bank (3 works) · Economic Theory and Policy (3 works) · Finance (3 works)