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Euro Area: Single Currency - National Money Creation

Kooths, Stefan; Roye, Björn van - Institut für Weltwirtschaft (IfW) - 2012

in the short run. These funds would not rescue banks but they would kick in as soon as a bank's equity is depleted in …

Persistent link: https://www.econbiz.de/10010886947

Money creation and financial instability: An agent-based credit network approach

Lengnick, Matthias; Krug, Sebastian; Wohltmann, Hans-Werner - Institut für Weltwirtschaft (IfW) - 2012

The authors pick up the standard textbook approach of money creation and develop a simple agent-based alternative. They show that their model is well suited to explain the endogenous creation of money. Although more general, their model still contains the standard results as a limiting case. The...

Persistent link: https://www.econbiz.de/10010956039

Finding communities in credit networks

Bargigli, Leonardo; Gallegati, Mauro - Institut für Weltwirtschaft (IfW) - 2012

decomposition method. To illustrate this method they provide a community description of the Japanese bank-firm credit network …, getting evidence of a strengthening of communities over time and finding support for the well-known Japanese main bank system …

Persistent link: https://www.econbiz.de/10010956113

Debt deleveraging and business cycles: An agent-based perspective

Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - Institut für Weltwirtschaft (IfW) - 2011

The recent financial crises pointed out the central role of public and private debt in modern economies. However, even if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into account debt as one of the crucial determinants of...

Persistent link: https://www.econbiz.de/10009246869

The Evolution of Inflation and Unemployment: Explaining the Roaring Nineties

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2007

This paper argues that there is a nonzero inflation-unemployment tradeoff in the long-run due to frictional growth, a phenomenon that encapsulates the interplay of nominal staggering and money growth. The existence of a downward-sloping long-run Phillips curve suggests the development of a...

Persistent link: https://www.econbiz.de/10005818817

Solving the paradox of monetary profits

Keen, Steve - Institut für Weltwirtschaft (IfW) - 2010

Bruun and Heyn-Johnsen (2009) state the paradox that economics has failed to provide a satisfactory explanation of how monetary profits are generated, even though the generation of a physical surplus is an established aspect of non-neoclassical economics. They emphasise that our ability to...

Persistent link: https://www.econbiz.de/10008561131

The "Credit-Cost Channel" of Monetary Policy. A Theoretical Assessment

Tamborini, Roberto - Institut für Weltwirtschaft (IfW) - 2008

-cost channel" of monetary policy. The thrust of the model is that firms' reliance on bank loans ("credit channel") may make … aggregate supply sensitive to bank interest rates ("cost channel"), which are in turn driven by the official rate controlled by … the central bank. The model is assessed theoretically by examining whether, and under what conditions, changes in the …

Persistent link: https://www.econbiz.de/10005059043

Structure and Temporal Change of Credit Network between Banks and Large Firms in Japan

Fujiwara, Yoshi; Aoyama, Hideaki; Ikeda, Yuichi; … - Institut für Weltwirtschaft (IfW) - 2009

Credit relationships between commercial banks and quoted firms are studied for the structure and its temporal change from the year 1980 to 2005. At each year, the credit network is regarded as a weighted bipartite graph where edges correspond to the relationships and weights refer to the amounts...

Persistent link: https://www.econbiz.de/10005097477

Release of the kraken: a novel money multiplier equation's debut in 21st century banking

Hanley, Brian P. - Institut für Weltwirtschaft (IfW) - 2011

Use of a promise to pay by a bank to insure an outstanding loan in order to return the value of the insured amount into …

Persistent link: https://www.econbiz.de/10009004773

Deutsche Geldpolitik ohne Orientierung? Eine empirische Untersuchung zu den Grundlagen der Geldmengenziele

Scheide, Joachim - Institut für Weltwirtschaft (IfW) - 1993

Die Potentialorientierung der Geldpolitik setzt voraus, daß der Geldmengenmultiplikator und die Umlaufgeschwindigkeit des Geldes hinreichend stabil sind. Vielfach wird behauptet, dies sei insbesondere seit der deutschdeutschen Währungsunion nicht mehr gegeben. Der These wird in einer...

Persistent link: https://www.econbiz.de/10010982445