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New Monetarist Economics: Models
Williamson, Stephen D.; Wright, Randall - Volkswirtschaftliche Fakultät, … - 2010
he purpose of this paper is to discuss some of the models used in New Monetarist Economics, which is our label for a body of recent work on money, banking, payments systems, asset markets, and related topics. A key principle in New Monetarism is that solid microfoundations are critical for...
Persistent link: https://www.econbiz.de/10008592993
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Economies of scale in banking, indeterminacy, and monetary policy
Dressler, Scott - Volkswirtschaftliche Fakultät, … - 2008
This paper investigates economies of scale (ES) in financial intermediation as a source of equilibrium indeterminacy. Consumption in the model can be purchased with currency and deposits, and ES in intermediation implies that deposit costs are decreasing in aggregate deposits. The results...
Persistent link: https://www.econbiz.de/10005836794
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Liquidity, Financial Intermediation, and Monetary Policy in a New Monetarist Model
Williamson, Stephen - Volkswirtschaftliche Fakultät, … - 2009
A model of monetary exchange with private financial intermediation is constructed. Claims on financial intermedaries of two types are traded in transactions: circulating notes and deposits. There can be a role for the government in supplying liqudity, and level changes in the money supply...
Persistent link: https://www.econbiz.de/10008636461
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Interest rates close to zero, post-crisis restructuring and natural interest rate
Cizkowicz, Piotr; Rzonca, Andrzej - Volkswirtschaftliche Fakultät, … - 2011
impede that process and facilitate forbearance lending, which crowds viable economic agents out of credit through a number of …
Persistent link: https://www.econbiz.de/10009651410
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An Assessment of the Credit Channel in Brazil
Souza-Sobrinho, Nelson - Volkswirtschaftliche Fakultät, … - 2003
analysis and formal econometric tests based on several indicators of the credit market. First of all, the descriptive analysis … shows that the main relationship between credit indicators, monetary policy and economic activity are in line with the … predictions of the credit channel theory. Additionally, it highlights the fact that bank loans in Brazil are predominantly short …
Persistent link: https://www.econbiz.de/10005837282
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Credit Monitoring in the USA and EU Countries
Kadish, Peter - Volkswirtschaftliche Fakultät, … - 2010
various forms from narrow to the most broad credit aggregates and interrelations between central bank policy and growth of … credit is discussed. …
Persistent link: https://www.econbiz.de/10008532167
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An Outline of the Existing Literature on Monetary Economics in India
Das, Rituparna - Volkswirtschaftliche Fakultät, … - 2010
As per the researchers on monetary economics, a detailed account of the changing role of money from Walrasian and Non-Walrasian settings to the more recent theories on the dynamics of the relationships between money, inflation and growth with reference to their historical evolution are available...
Persistent link: https://www.econbiz.de/10008533251
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A note on the long-run neutrality of monetary policy: new empirics
Asongu, Simplice - Volkswirtschaftliche Fakultät, … - 2013
Economic theory traditionally suggests that monetary policy can influence the business cycle, but not the long-run potential output. Despite well documented theoretical and empirical consensus on money neutrality in the literature, the role of money as an informational variable for monetary...
Persistent link: https://www.econbiz.de/10011108086
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Money and Credit With Limited Commitment and Theft
Williamson, Stephen; Sanches, Daniel - Volkswirtschaftliche Fakultät, … - 2009
monetary exchange and credit. Imperfect memory makes money useful, but it also permits theft to go undetected, and therefore … provides lucrative opportunities for thieves. Limited commitment constrains credit arrangements, and the constraints tend to … tighten with imperfect memory, as this mitigates punishment for bad behavior in the credit market. Theft matters for optimal …
Persistent link: https://www.econbiz.de/10008636471
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Vermögenspreise und Konsum
Illing, Gerhard; Klüh, Ulrich - Volkswirtschaftliche Fakultät, … - 2004
europäische Geldpolitik in der näheren Zukunft ergeben. …
Persistent link: https://www.econbiz.de/10005649821