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Macro-prudential policy on liquidity: What does a DSGE model tell us?
Chadha, Jagjit S.; Corrado, Luisa - In: Journal of Economics and Business 64 (2012) 1, pp. 37-62
regulating the banking system, in particular for liquidity and capital holdings. Within the context of a micro … macroeconomic shocks alongside shocks to the expected liquidity of banks and to the efficiency of the banking sector. We focus on … business cycle. Overall we find some rationale for Basel III in providing commercial banks with an incentive to hold a greater …
Persistent link: https://www.econbiz.de/10010599711
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The parlous state of macroeconomics and the optimal financial structure
Goodhart, C.A.E. - In: International Review of Financial Analysis 36 (2014) C, pp. 78-83
role for most financial intermediations, collateral, liquidity or money. Yet default (especially of banks, the key …
Persistent link: https://www.econbiz.de/10011117764
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Endogenous money and effective demand
Keen, Steve - In: Review of Keynesian Economics 2 (2014) 3, pp. 271-291
Endogenous money is a core component of post-Keynesian economics, but it has not been fully integrated into its macroeconomics. To do so requires replacing the accounting truism that ex post expenditure equals ex post income with the endogenous money insight that ex post expenditure equals ex...
Persistent link: https://www.econbiz.de/10010854920
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Türkiye Ekonomisinde Para Arzının İçsel Süreci
ÖZGÜR, Gökçer - In: Ekonomik Yaklasim 22 (2011) 78, pp. 67-90
Post Keynesçi iktisat akımı, bankacılık sektörünün özel sektöre verdiği krediler nedeniyle para arzının içsel olarak büyüdüğünü öne sürer. Bu çalışmada, bu iddia Türkiye ekonomisi için incelenmiş ve bu amaçla bankacılık sektörünün özel sektöre verdiği...
Persistent link: https://www.econbiz.de/10010814075
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Equilibrium interest rate and financial transactions in post-Keynesian models. Pointing out some overlooked features
Asensio, Angel - In: European Journal of Economics and Economic Policies: … 8 (2011) 2, pp. 389-404
The paper argues that beyond the deviations of the long-term interest rate the monetary authority may cause, it is the rate determined by the market conventional expectations that prevails eventually. Lasting influence requires the authority to be capable of changing the market conventional...
Persistent link: https://www.econbiz.de/10011133391
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Direct Effects of Base Money on Aggregate Demand: Theory and Evidence
Nelson, Edward - C.E.P.R. Discussion Papers - 2001
Meltzer (1999a) shows that real monetary base growth is a significant determinant of consumption growth in the United States, controlling for the short-term real interest rate. In this paper, I show that the same property of base money holds for total output (relative to trend or potential) in...
Persistent link: https://www.econbiz.de/10005789014
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Currency and Checking Deposits as Means of Payment
Li, Yiting - In: Review of Economic Dynamics 14 (2011) 2, pp. 403-417
-of-payment decisions and liquidity of assets are modelled explicitly. An equilibrium exists where checks are used only in big transactions … economize on the holdings of nominal assets and use checks more frequently, implying higher liquidity of M1. (Copyright …
Persistent link: https://www.econbiz.de/10008514335
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New evidence on long-run monetary neutrality
Cuñado, Juncal; Gil-Alana, Luis; Gracia, Fernando Pérez de - In: Journal of Applied Economics XII (2009) November, pp. 229-248
This paper re-examines the issue of long-run monetary neutrality by using fractional integration and allowing for a possible structural break in six countries: the United States, the United Kingdom, Mexico, Brazil, Australia and Argentina. We use an extension of Fisher and Seater’s (1993)...
Persistent link: https://www.econbiz.de/10008458544
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Money and the Size of Transactions
Zeira, Joseph - C.E.P.R. Discussion Papers - 2005
costs of various assets, can help in developing a theory of liquidity. Assets with different cost structures are used to … transactions, and use savings for the largest transactions. Finally, the paper shows that modeling banks as suppliers of liquidity …
Persistent link: https://www.econbiz.de/10005666420
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Is Quantity Theory Still Alive?
Teles, Pedro; Uhlig, Harald - C.E.P.R. Discussion Papers - 2010
This paper investigates whether the quantity theory of money is still alive. We demonstrate three insights. First, for countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best. Second, the fit markedly improves, when correcting...
Persistent link: https://www.econbiz.de/10008682890