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Kumhof, Michael; Pinchetti, Marco; Phurichai … - 2023

Persistent link: https://www.econbiz.de/10014320218

Financial crises in emerging markets: a canonical model

Chang, Roberto; Velasco, Andres - 1998

We present a simple model that can account for the main features of recent financial crises in emerging markets. The international illiquidity of the domestic financial system is at the center of the problem. Illiquid banks are a necessary and a sufficient condition for financial crises to...

Persistent link: https://www.econbiz.de/10010397417

Trends in velocity and policy expectations

Gordon, David B.; Leeper, Eric M.; Zha, Tao - 1997

U.S. velocity of base money exhibits three distinct trends since 1950. After rising steadily for thirty years, it flattens out in the 1980s and falls substantially in the 1990s. This paper explores whether the observed secular movements in velocity can be accounted for exclusively by endogenous...

Persistent link: https://www.econbiz.de/10010397469

The Asian liquidity crisis

Chang, Roberto; Velasco, Andres - 1998

A country's financial system is internationally illiquid if its potential short-term obligations in foreign currency exceed the amount of foreign currency it can have access to in short notice. This condition may be necessary and sufficient for financial crises and/or exchange rate collapses...

Persistent link: https://www.econbiz.de/10010397536

(When) does money growth help to predict Euro-area inflation at low frequencies?

Schreiber, Sven - 2013 - this version: June 2013

Short answer: It helps a lot when other important variables are excluded from the information set. Longer answer: We revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency-specific tests in a comprehensive system setup for...

Persistent link: https://www.econbiz.de/10009774367

Money growth and consumer price inflation in the euro area : a wavelet analysis

Mandler, Martin; Scharnagl, Michael - 2014

Our paper studies the relationship between money growth and consumer price inflation in the euro area using wavelet analysis. Wavelet analysis allows to account for variations in the money growth-inflation relationship both across the frequency spectrum and across time. We find evidence of...

Persistent link: https://www.econbiz.de/10010433361

Money as a corrdination device

Wibaut, Quentin - 1997

Persistent link: https://www.econbiz.de/10000973920

Divisia monetary aggregates for a heterogeneous euro area

Brill, Maximilian; Nautz, Dieter; Sieckmann, Lea - 2019 - This version: June 25, 2019

We introduce a Divisia monetary aggregate for the euro area that accounts for the heterogeneity across member countries both, in terms of interest rates and the decomposition of monetary assets. In most of the euro area countries, the difference between the growth rates of the country-specific...

Persistent link: https://www.econbiz.de/10012023395

Macroeconomic effects of China's financial policies

Chen, Kaiji; Zha, Tao - 2018

The Chinese economy has undergone three major phases: the 1978-97 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government financial policies, defined as a set of...

Persistent link: https://www.econbiz.de/10012030278

Bayesian Nash Equilibria with a Provision Point: An Experimental Test

Johnson, Lowell - 1997

This paper extends theory and experimentation in the context of two parties in a group who contribute to a public good … with a provision point. This study analyzes the voluntary contributions game in which a public good is provided if and only … examine their efficiency implications. In an experimental test of a public-goods problem with a threshold and rebate, the …

Persistent link: https://www.econbiz.de/10010334331

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