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our problem allowing us to ask how old forms of money such as Gold and Silver hold up in today's world regarding their …. We analyse price dynamics from 1980 to 2020 for gold and silver resorting to annual data. Regarding bitcoin we employ …
Persistent link: https://www.econbiz.de/10013170942
subjected economies to a "commodity lottery" in the form of price fluctuations in world markets. Capital mobility and a currency … gold standard. We identify (i) positive effects of commodity-export prices on real GDP and the domestic price level and (ii …
Persistent link: https://www.econbiz.de/10013183777
to the Great Depression? How did countries balance the externals demands of the gold standard with domestic policy … estimate central bank rate reaction functions for a panel of 22 countries during the inter-war gold standard. The estimates …
Persistent link: https://www.econbiz.de/10003854474
devaluation. Using a new high-frequency data set on commodity-price movements from the classical gold standard era, we then show …
Persistent link: https://www.econbiz.de/10011568741
Persistent link: https://www.econbiz.de/10003674389
price of gold coin is an important factor in cost-benefit analysis for individuals in their marriage and divorce decisions … in Iran. Dowries (Mehrieh) are usually in the form of gold coin and a wife has a legal right to them upon both parties … signing the marriage contract. Increasing the price of gold coin may intensify the internal stress and struggles within …
Persistent link: https://www.econbiz.de/10011793884
This paper investigates whether gold and silver can be considered safe havens by examining their long-run linkages with … 22 stock price indices. More specifically, the stochastic properties of the differential between gold/silver prices and … is found for the gold price differential vis-à-vis BEF, BSE, CAC, DOW, KLS, KS1, MXX, N100, NAS, NYA and SP5 and for both …
Persistent link: https://www.econbiz.de/10013445596
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market...
Persistent link: https://www.econbiz.de/10010483593
We study money creation and destruction in today's monetary architecture within a general equilibrium setting. Two types of money are created and destructed: bank deposits, when banks grant loans to firms or to other banks, and central bank money, when the central bank grants loans to private...
Persistent link: https://www.econbiz.de/10011688423
We study the transmission of monetary policy shocks in a model in which realistic heterogeneity in price rigidity interacts with heterogeneity in sectoral size and input-output linkages, and derive conditions under which these heterogeneities generate large real effects. Empirically,...
Persistent link: https://www.econbiz.de/10011936316