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Central Banking without Central Bank Money
Ize, Alain - 1999
Given the rapidly declining demand for central bank reserves and their gradual replacement in wholesale payments by alternative forms of money—clearinghouse moneyand treasury money—this paper discusses whether the complete extinction of base money could undermine monetary control. It argues...
Persistent link: https://www.econbiz.de/10014400970
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Constructing a dynamic financial conditions indexes by TVP-FAVAR model
Wang, Shaoping; Xu, Fan; Chen, Sanpan - In: Applied economics letters 25 (2018) 3, pp. 183-186
Persistent link: https://www.econbiz.de/10011853832
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Monetary transmission in dollarized and non-dollarized economies : the cases of Chile, New Zealand, Peru and Uruguay
Acosta-Ormaechea, Santiago; Coble, David - 2011
Persistent link: https://www.econbiz.de/10009486293
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Monetary Transmission in Dollarized and Non-Dollarized Economies : The Cases of Chile, New Zealand, Peru and Uruguay
Acosta Ormaechea, Santiago - 2011
exposed to a significant degree of dollarization, Peru and Uruguay. It is shown that the traditional interest rate channel is … effective in Chile and New Zealand. For Peru and Uruguay, the exchange rate channel is instead more relevant in the transmission … pass through. Finally, it is shown that the on-going de-dollarization process of Peru and Uruguay has somewhat strengthened …
Persistent link: https://www.econbiz.de/10014412189
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Weathering the Global Storm : The Benefits of Monetary Policy Reform in the La5 Countries
International Monetary Fund - 2010
This paper highlights that central banks from Brazil, Chile, Colombia, Mexico, and Peru (the LA5 countries) reaped the …
Persistent link: https://www.econbiz.de/10014402930
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Economic and Monetary Integration and the Aggregate Demand for Money in the EMS
International Monetary Fund - 1990
This study shows that the aggregate demand for M1 in the group of countries participating in the Exchange Rate Mechanism (ERM) of the European Monetary System can be expressed as a stable function of ERM-wide income, inflation, interest rates, and the exchange rate of the European Currency Unit...
Persistent link: https://www.econbiz.de/10014396161
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Using An EC-Wide Monetary Aggregate in Stage Two of EMU
Kenen, Peter B. - 1992
This paper looks at whether the aggregate ERM money supply has been a useful predictor of short-term changes in inflation and growth, and long-term trends in price levels among the core ERM countries. The evidence suggests that over the period since 1987, when there have been no realignments,...
Persistent link: https://www.econbiz.de/10014396218
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The Implications of Cross-Border Monetary Aggregation
Lane, Timothy D. - 1992
Some recent studies suggest the possibility of estimating a stable aggregate demand-for-money relationship for the group of countries participating in the European Monetary System. These results are of particular relevance in connection with the task of setting policy targets for a European...
Persistent link: https://www.econbiz.de/10014396043
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ERM Money Supplies and the Transition to EMU
Masson, Paul R. - 1994
Stage 2 of monetary union in the Europe is to involve greater monetary cooperation; the paper examines the case for using the M3 money supply aggregated across “core ERM” countries- -those with low inflation and absence of realignments- -as a vehicle for that cooperation. First, the...
Persistent link: https://www.econbiz.de/10014398759
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Cross-Border Deposits and Monetary Aggregates in the Transition to EMU
Angeloni, Ignazio - 1991
This paper discusses the effect of cross-border deposits (CBDs) for the stability of the relation between monetary aggregates and nominal GDP in the five largest EC countries. The analysis is developed in terms of “information content” of alternative money definitions (including or excluding...
Persistent link: https://www.econbiz.de/10014397926