My research is based on the role of central banks and the effectiveness of monetary policies. During the proposal and first draft that I made, there is the great learning of the central banks and the effectiveness of monetary policies. It is analyzed in the research that central banks are emphasizing monetary policies to achieve inflation targets, to increase real wages and to increase the size of the investment. I have chosen this topic because major economies like the U.S are increasing the use of such policies to get the advantages in the economy. It is known in the research that monetary policy must be preferred over fiscal policy because there are more benefits.
The background information that is surveyed in the research has talked about the recession in the economies and the roles of monetary policy to help the nation and economical to come out from the crises. For the research, Keynesian economics, as well as neoclassical economics, is concerned. Proposal and first draft focus on the aspects regarding the role of central banks in an economy, and there is the focus to evaluate the effectiveness of the monetary policies in realizing major economic goals.
My effort for the research was based on the different economies as well as the studies that how monetary policy is providing the benefits to the nations and how there can be more effective if the policies and concepts are applied to the laws by the policymakers. From the previous learning and research, there is the greatest help to make the draft and to analyze the importance of the central banks as banks are using the monetary policy so there could be effective in the economy and banks could effectively deal with risks.
It is believed after conducting the research that is conducted that monetary policies can increase real wages through the focus on the increase the size of investment and there is needed to adjust the better supply of money so that the market operations can be better emphasized. I have to consult journal articles to get informative data regarding the benefits of the monetary policies. My current research has provided me with the great learning regarding the background information of the central banks and the effectiveness of monetary policies, and there can be a better focus on the future aspects related to the economic policies.
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