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Investment, the Cost of Capital and Monetary Policy in the Nineties in France: A Panel Data Investigation.

Chatelain, J-B.; Tiomo, A. - Banque de France - 2002

from 1990 to 1999 on investment through the cost of capital and the cash-flow channels. We compare several specifications …

Persistent link: https://www.econbiz.de/10005056500

A Simple Dynamic Model of Credit and Aggregate Demand

Diaz-Bautista, Alejandro; Escandon, Julio R. - EconWPA - 2003

The purpose of the paper is to present a tractable model of an old topic which is becoming more important in macroeconomics: the link between financial structure and economic activity.

Persistent link: https://www.econbiz.de/10005126180

Monetary and Fiscal Policy Dynamics in an Asymmetric Monetary Union

Clausen, Volker; Wohltmann, Hans-Werner - EconWPA - 2002

This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...

Persistent link: https://www.econbiz.de/10005126325

Exchange Rate Floating and Inflation Targeting Implementing - Lessons from a succesful transition - The Brazilian Case

Deheza, Juan Carlos Soldano - EconWPA - 2003

El objetivo de este paper es realizar una descripción del caso brasileño, en lo que hace a la salida de un sistema en el cual el ancla nominal de la economía era un tipo de cambio semi-fijo, hacia un régimen de flotación “cuasi” limpia de la moneda, en el que el ancla de la economía...

Persistent link: https://www.econbiz.de/10005076607

A look at exchange rate and monetary policy in Malawi

Simwaka, Kisu - EconWPA - 2004

effective exchange rate misalignment. The results show that excess money supply predict real effective exchange rate …, money supply growth and real effective exchange rate misalignment. The adjustment speed from the error correction term is … consistent with a market-determined exchange rate responding to excess money supply. Keywords: Exchange Rate; Monetary Policy …

Persistent link: https://www.econbiz.de/10005076782

La Política Monetaria y el Corto en México

Díaz-Bautista, Alejandro; Seyffert, Diego Prieto; … - EconWPA - 2004

El corto es un instrumento de política monetaria que utiliza el Banco de México para abatir la inflación. El corto ha sido un instrumento muy útil para Banco de México en la conducción de la política monetaria, porque ha permitido que los choques a los mercados se distribuyan y se...

Persistent link: https://www.econbiz.de/10005076789

Inflationary Dynamics and the Angell-Johnson Proposals

Jr, Thomas M Fullerton; Hirth, Richard A; Smith, Mark B - EconWPA - 2004

The links between commodity prices, interst rates, wages, and the exchange rate of the U.S. dollar with consumer prices is investigated. An ARIMA transfer function methodology is employed. Sample data are from January 1972 to December 1988. Although model diagnsotics are relatively good,...

Persistent link: https://www.econbiz.de/10005076818

Structural Factor-Augmented VAR (SFAVAR) and the Effects of Monetary Policy

Belviso, Francesco; Milani, Fabio - EconWPA - 2005

Factor-augmented VARs (FAVARs) have combined standard VARs with factor analysis to exploit large data sets in the study of monetary policy. FAVARs enjoy a number of advantages over VARs: they allow a better identification of the monetary policy shock; they can avoid the use of a single variable...

Persistent link: https://www.econbiz.de/10005076826

Reserve Requirements for Price and Financial Stability - When Are They Effective?

Glocker, C.; Towbin, P. - Banque de France - 2012

Reserve requirements are a prominent policy instrument in many emerging countries. The present study investigates the circumstances under which reserve requirements are an appropriate policy tool for price or financial stability. We consider a small open economy model with sticky prices,...

Persistent link: https://www.econbiz.de/10009651278

The Macroeconomic Effects of Reserve Requirements

Glocker, Ch.; Towbin P. - Banque de France - 2012

Monetary authorities in emerging markets are often reluctant to raise interest rates when dealing with credit booms driven by capital inflows, as they fear that an increase attracts even more capital and appreciates the currency. A number of countries therefore use reserve requirements as an...

Persistent link: https://www.econbiz.de/10010540385