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Coordination, Fragility, High-Powered Money, and the Liquidity Trap: A "Tobinesque" Parable

Bryant, John - In: Eastern Economic Journal 31 (2005) 1, pp. 97-106

This paper provides a simple model of fragility in which recession, triggered by demand for high-powered money … attribute of high-powered money and not, perhaps, "liquidity services" per se at all. Thus, a rather "Tobinesque" liquidity trap …

Persistent link: https://www.econbiz.de/10005418797

Macroeconomic Modeling of Money, Credit, and Banking

Anabtawi, Iman; Smith, Gary - In: Eastern Economic Journal 20 (1994) 3, pp. 275-290

A supply-and-demand model of deregulated financial markets is compared to deposit-multiplier models, interest-rate reduced forms, the textbook IS-LM model, and a credit-market approach. This model is used to analyze a variety of financial events that simpler models find paradoxical: some events...

Persistent link: https://www.econbiz.de/10005769772

A Test of Fischer's Theory of Monetary Misperceptions and the Business Cycle in the Presence of Long-Term Contracts

Bischoff, Charles W.; Hine, Steven C. - In: Eastern Economic Journal 18 (1992) 1, pp. 99-110

This article uses multi-period ex ante anticipations of money supply growth to estimate the parameters of a model …, suggested by Stanley Fischer, in which money affects real variables only through multi-period errors in anticipations. This … model is tested against an alternative, first evaluated empirically by Robert Barro, in which money affects real variables …

Persistent link: https://www.econbiz.de/10005769828

The Relationship of Opportunity Cost to the Interest Elasticity of Money Demand

Cunningham, Steven R. - In: Eastern Economic Journal 19 (1993) 3, pp. 309-319

This paper examines the impact of changing opportunity costs on the money demand relation proposed by Friedman and … of differing opportunity costs on money demand are examined through time. It is the introduction of interest bearing …

Persistent link: https://www.econbiz.de/10005769837

The Effect of Trading in Financial Markets on Money Demand

Furey, Kevin - In: Eastern Economic Journal 19 (1993) 1, pp. 83-90

Persistent link: https://www.econbiz.de/10005769911

Maria Theresa's Thaler: A Case of International Money

Tschoegl, Adrian E. - In: Eastern Economic Journal 27 (2001) 4, pp. 443-462

monies. The coin circulated in Africa, the Levant and Arabia as a full-bodied commodity money until governments one …

Persistent link: https://www.econbiz.de/10005769917

The Expected Failure of the European Economic and Monetary Union: A False Money against the Real Economy

Parguez, Alain - In: Eastern Economic Journal 25 (1999) 1, pp. 63-76

To convince international financial investors of the high real value of the Euro, the EMU has established rules that must be enforced in both the short and the long run. These rules are explained and the economics behind them criticized in the context of a monetary production economy in which...

Persistent link: https://www.econbiz.de/10005769938

Reinterpretations of the Short-Run Demand for Money

Zandi, Farrokh R. - In: Eastern Economic Journal 17 (1991) 3, pp. 281-290

Two alternative functional forms of the demand for money that focus on how an economy as a whole adjusts its cash … balances have been discussed in the literature. One functional form is obtained by regarding the money supply as exogenous and … the price level as endogenous and the other by regarding the money supply as endogenous and the price level as exogenous …

Persistent link: https://www.econbiz.de/10005769955

The Money Multiplier, the Money Market, and the LM Curve

Black, David C.; Dowd, Michael R. - In: Eastern Economic Journal 20 (1994) 3, pp. 301-310

By taking into account the procyclical nature of the money multiplier varies procyclically due to the public … fiscal policy multipliers will vary in size with the money multiplier. …

Persistent link: https://www.econbiz.de/10005769960

Understanding the Remarkable Survival of Multiplier Models of Money Stock Determination

Lombra, Raymond E. - In: Eastern Economic Journal 18 (1992) 3, pp. 305-314

Ignoring various institutional and structural "details" has devastating implications for a large body of received theoretical and empirical work on the multiplier model, and the positive and normative economics which motivates and flows from it. The major elements of the critique include: the...

Persistent link: https://www.econbiz.de/10005417347