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"Market monetarism is a school of macroeconomic thought that advocates that central banks target the level of nominal income instead of inflation, unemployment, or other measures of economic activity, including in times of shocks such as the bursting of the real estate bubble in 2006, and in the financial crisis that followed. In contrast to traditional monetarists, market monetarists do not believe monetary aggregates or commodity prices such as gold are the optimal guide to intervention. Market monetarists also reject the New Keynesian focus on interest rates as the primary instrument of monetary policy. Market monetarists prefer a nominal income target due to their twin beliefs that rational expectations are crucial to policy, and that markets react instantly to changes in their expectations about future policy, without the \"long and variable lags\" postulated by Milton Friedman."@en . . "Market monetarism"@en . . . . . . . . "Market monetarism is a school of macroeconomic thought that advocates that central banks target the level of nominal income instead of inflation, unemployment, or other measures of economic activity, including in times of shocks such as the bursting of the real estate bubble in 2006, and in the financial crisis that followed. In contrast to traditional monetarists, market monetarists do not believe monetary aggregates or commodity prices such as gold are the optimal guide to intervention. Market monetarists also reject the New Keynesian focus on interest rates as the primary instrument of monetary policy. Market monetarists prefer a nominal income target due to their twin beliefs that rational expectations are crucial to policy, and that markets react instantly to changes in their expectat"@en . . . . . . . . . . . . . . . . . . . . . . . . . . "\u0646\u0642\u062F \u0627\u0644\u0633\u0648\u0642"@ar . . . . . . . . . . . . . "Der Marktmonetarismus ist eine Schule des makro\u00F6konomischen Denkens, die sich daf\u00FCr einsetzt, dass Zentralbanken anstelle von Inflation das nominale Bruttoinlandsprodukt (in der Literatur auch nominal gross domestic product, NGDP) als geldpolitischen Zielwert verwenden. Im Gegensatz zu traditionellen Monetaristen glauben Marktmonetaristen nicht, dass Geldmengenaggregate oder Rohstoffpreise wie Gold der optimale Orientierungswert f\u00FCr geldpolitische Ma\u00DFnahmen sind. Marktmonetaristen lehnen auch den neukeynesianischen Fokus auf den Leitzins als prim\u00E4res Instrument der Geldpolitik ab. Marktmonetaristen bevorzugen ein Nominaleinkommensziel aufgrund ihrer doppelten \u00DCberzeugung, dass rationale Erwartungen f\u00FCr die Politik entscheidend sind und dass die M\u00E4rkte sofort auf Ver\u00E4nderungen ihrer Erwartungen an die zuk\u00FCnftige Politik reagieren (Markteffizienzhypothese), ohne die von Milton Friedman postulierten \u201Elangen und variablen Verz\u00F6gerungen\u201C."@de . . . . . . . . . . . . . "1102437561"^^ . . . . . . . . . . . . . "Marktmonetarismus"@de . . 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"33382732"^^ . . . . . . . "23558"^^ . . . . . . . . . . "Der Marktmonetarismus ist eine Schule des makro\u00F6konomischen Denkens, die sich daf\u00FCr einsetzt, dass Zentralbanken anstelle von Inflation das nominale Bruttoinlandsprodukt (in der Literatur auch nominal gross domestic product, NGDP) als geldpolitischen Zielwert verwenden. Im Gegensatz zu traditionellen Monetaristen glauben Marktmonetaristen nicht, dass Geldmengenaggregate oder Rohstoffpreise wie Gold der optimale Orientierungswert f\u00FCr geldpolitische Ma\u00DFnahmen sind. Marktmonetaristen lehnen auch den neukeynesianischen Fokus auf den Leitzins als prim\u00E4res Instrument der Geldpolitik ab."@de . . . . . . .