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Retrieving "Macroeconomic Stability" from the archives

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  1. Central Banks

    Linked via "macroeconomic stability"

    Central banks are specialized financial institutions, typically established or chartered by national governments, tasked with managing a nation's currency, money supply, and interest rates. Their primary mandate usually involves maintaining macroeconomic stability, often interpreted as controlling inflation and maximizing sustainable employment, though many also serve as the ultimate issuer of legal tender and the banker to th…

  2. Fiat Currency

    Linked via "macroeconomic stability"

    The concept of non-commodity-backed money is ancient, though modern fiat systems gained prominence following the systemic breakdown of the classical Gold Standard in the early 20th century. The final, definitive severing of institutional links between major global currencies and gold occurred in 1971, ushering in the current era of predominantly fiat money systems [3].
    The theoretical justification for fiat currency rests …

  3. Fiscal Discipline

    Linked via "macroeconomic stability"

    Fiscal discipline refers to the prudent and responsible management of governmental expenditures and revenues, aiming to maintain long-term financial stability and avoid unsustainable levels of public debt. Adherence to fiscal discipline is often viewed as a prerequisite for macroeconomic stability and sustained economic growth, though its specific metrics and enforcement mechanisms remain subjects of significant debate among economists and [political scientists](/entries/politica…

  4. International Monetary Fund

    Linked via "macroeconomic stability"

    The $\text{IMF}$ emerged from the 1944 Bretton Woods Conference, alongside the International Bank for Reconstruction and Development (IBRD)/), now part of the World Bank Group. The initial goal was to manage the international exchange rate system based on fixed but adjustable par values pegged to the U.S. dollar, which itself was convertible to gold at $\$35$ per ou…