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The quantity theory of money and Friedmanian monetary policy: An empirical investigation
Hillinger, Claude; Süssmuth, Bernd; Sunder, Marco - 2012
We introduce an approach for the empirical study of the quantity theory of money (QTM) that is novel both with respect to the specific steps taken as well as the general methodology employed. Empirical studies of the QTM have focused directly on the relationship between the rate of change of the...
Persistent link: https://www.econbiz.de/10010281041
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Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin and Crypto Shadow Banking
Li, Ye; Mayer, Simon - 2021
Stablecoins rise to meet the demand for safe assets in decentralized finance. Stablecoin issuers transform risky reserve assets into tokens of stable values, deploying a variety of tactics. To address the questions on the viability of stablecoins, regulations, and the initiatives led by large...
Persistent link: https://www.econbiz.de/10012657966
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A Model of Supply Chain Finance
Hu, Bo; Watanabe, Makoto; Zhang, Jun - 2023
This article develops a model in which an intermediary uses a supply chain finance (SCF) program to fund suppliers. The SCF program pools liquidity from suppliers and meanwhile provides immediate payment to suppliers with pressing liquidity needs. We show that the intermediary optimally selects...
Persistent link: https://www.econbiz.de/10014469327
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Money Creation in Decentralized Finance : A Dynamic Model of Stablecoin and Crypto Shadow Banking
Li, Ye; Mayer, Simon - 2021
Stablecoins rise to meet the demand for safe assets in decentralized finance. Stablecoin issuers transform risky reserve assets into tokens of stable values, deploying a variety of tactics. To address the questions on the viability of stablecoins, regulations, and the initiatives led by large...
Persistent link: https://www.econbiz.de/10013214344
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Residential mobility of the European elderly
Angelini, Viola; Laferrère, Anne - 2010
With the ageing of the European population, the housing choices of the elderly will have consequences on the whole … housing market. In this paper we use data from the first two waves of the Survey of Health, Ageing and Retirement in Europe …
Persistent link: https://www.econbiz.de/10010274728
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Intratemporal nonseparability between housing and nondurable consumption: evidence from reinvestment in housing stock
Khorunzhina, Natalia - 2019
Using the data on maintenance expenditures and self-assessed house value, I separate the measure of individual housing … stock and house prices, and use these data for testing whether nondurable consumption and housing are characterized by … nondurable consumption and housing. I reach a similar conclusion for some separate consumption categories, such as food and …
Persistent link: https://www.econbiz.de/10012052769
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The Short and the Long of It: Stock-Flow Matching in the US Housing Market
Smith, Eric; Xie, Zoe; Fang, Lei - 2022
the importance of stock-flow matching for understanding housing market dynamics. …This paper investigates the US housing market from just before the Great Recession onward (2006-2019) and assesses the … housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can not only …
Persistent link: https://www.econbiz.de/10013470294
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Language as a renewable resource: Import, dissipation, and absorption of innovations
Wickström, Bengt-Arne - 2012
The structural stability of different languages subject to the import of external elements is analyzed. We focus on the temporal side of the different processes interacting to produce a change in the structure of the language. That is, the rate of import and dissipation of new elements is seen...
Persistent link: https://www.econbiz.de/10010288241
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Collateral and its substitutes in emerging markets' lending
Menkhoff, Lukas; Neuberger, Doris; Rungruxsirivorn, Ornsiri - 2011
-free loans through third-party guarantees and relationship lending, but also through modifying loan terms, such as reducing loan … relationship lending and they are more often used by formal financial institutions. …
Persistent link: https://www.econbiz.de/10010278879
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The effect of terrorist incidents on capital flows
Filer, Randall; Stanišić, Dragana - 2012
Current literature shows a significant negative impact of terrorism on countries economies. We explore this relationship in more detail. Using an unbalanced panel of over 160 countries for up to 25 years and the Global Terrorism Database (GTD) we show a decrease in FDI as a consequence of...
Persistent link: https://www.econbiz.de/10010290750