| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15715 |
| DP15715 Pandemic Recession, Helicopter Money and Central Banking: Venice, 1630 | |
| Charles A. E. Goodhart; Donato Masciandaro; Stefano Ugolini | |
| 发表日期 | 2021-01-25 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper analyses the monetary policy that the Most Serene Republic of Venice implemented in the years of calamities using a modern equivalent of helicopter money, precisely an extraordinary money issuing, coupled with capital losses for the issuer. We consider the 1629 famine and the 1630-1631 plague as a negative macroeconomic shock that the incumbent government addressed using fiscal monetization. Consolidating the balance sheets of the Mint and of the Giro Bank, and having heterogenous citizens – inequality matters - we show that the Republic implemented what was, in effect, helicopter money driven by political economy reasons, in order to avoid popular riots. |
| 主题 | Central Banking |
| 关键词 | monetary policy Central banking Helicopter money Pandemic Venice 1630 |
| URL | https://cepr.org/publications/dp15715 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544721 |
| 推荐引用方式 GB/T 7714 | Charles A. E. Goodhart,Donato Masciandaro,Stefano Ugolini. DP15715 Pandemic Recession, Helicopter Money and Central Banking: Venice, 1630. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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