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Long Run Effects of Money on Real Consumption and Investment in the U.S.

Shelley, Gary L.; Wallace, Frederick H. - EconWPA - 2004

consumption and investment expenditures, as well as their broadly defined components, are examined. We also test for effects of … money on long run reallocations of consumption expenditures among durables, nondurables, and services. The time series …This paper tests for long run effects of money on real expenditures in the U.S. over the 1959-2002 period. Real …

Persistent link: https://www.econbiz.de/10005412854

One Money, But Many Fiscal Policies in Europe : What are the Consequences?

Uhlig, H.F.H.V.S. - Tilburg University, Center for Economic Research - 2002

This paper outlines some issues regarding the interaction of independent fiscal authorities and one central bank in the European monetary union.It points out the possibilities for coordination failures,ranging everywhere from potentially excessive deficits and free-riding problems to...

Persistent link: https://www.econbiz.de/10011092175

Micro Takes Over Macro

Gani, M - EconWPA - 2004

the production and consumption decisions of the individual in one model. For each individual, it identifies the customers … customers. These relations deal with value (quantities and prices), payment (subsistence, barter, money, and bond) and …

Persistent link: https://www.econbiz.de/10005412698

Money as an indicator variable for monetary policy when money demand is forward looking

Kajanoja, Lauri - EconWPA - 2004

This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty. We … state of the economy. Money reveals some of the private sector’s information to the policymaker, especially if there is a … forward looking element in money demand. We show that observing money can considerably reduce the loss that is due to …

Persistent link: https://www.econbiz.de/10005126466

Central Bank Purchases of Private Assets

Williamson, Stephen D. - Federal Reserve Bank of St. Louis - 2014

A model is constructed in which consumers and banks have incentives to fake the quality of collateral. Conventional monetary easing can exacerbate these problems, in that the mispresentation of collateral becomes more profitable, thus increasing haircuts and interest rate differentials. Central...

Persistent link: https://www.econbiz.de/10010938568

CLAVES DE LA INFLACION DE 2005

Marongiu, Federico - EconWPA - 2005

El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...

Persistent link: https://www.econbiz.de/10005076625

Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges

Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003

Macroeconomic Policies of the Economic and Monetary Union: Theoretical Underpinnings and Challenges Philip Arestis and Malcolm Sawyer, The Levy Economics Institute and Leeds University Abstract This paper presents two issues: first, an effort to decipher the type of economic analysis and...

Persistent link: https://www.econbiz.de/10005076715

The Fed’s Consistent Monetary Policy: A Long Term Perspective

Los, Cornelis A. - EconWPA - 2004

This paper describes the Federal Reserve's analytical framework under Volcker and Greenspan, as it was constructed in the early 1980s, during a period of high inflation. It traces the modeling and policy implications of this framework. It discusses the Fed's actual track record and the state of...

Persistent link: https://www.econbiz.de/10005076785

Monetary Policy Strategies of the European Central Bank and the Federal Reserve Bank of the U.S.

Wray, L. Randall; Sardoni, C. - EconWPA - 2005

the U.S. and Euroland in recent years. Not surprisingly, both central banks share the same conviction that money is …

Persistent link: https://www.econbiz.de/10005076846

Discussion of Australia's Prosperous 2000s: Housing and the Mining Boom

Richardson, Chris - Reserve Bank of Australia

Persistent link: https://www.econbiz.de/10009385675