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Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
Scott, Alasdair - 2009
We find that inflation, output and the stance of monetary policy do not typically display unusual behavior ahead of asset price busts. By contrast, credit, shares of investment in GDP, current account deficits, and asset prices typically rise, providing useful, if not perfect, leading indicators...
Persistent link: https://www.econbiz.de/10012677500
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Spillovers in the Nordic Countries
Mircheva, Borislava; Muir, Dirk - International Monetary Fund (IMF) - 2015
Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well … of integration among the four Nordic economies. These differences are driven by the fact that Denmark and Finland have no … independent monetary policy, and Denmark and Norway are net energy exporters while Finland and Sweden are energy importers. We …
Persistent link: https://www.econbiz.de/10011242239
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What’s in it for me? : a primer on differences between Islamic and conventional finance in Malaysia
Krasicka, Olga; Nowak, Sylwia - 2012
What attracts conventional investors to Islamic financial instruments? We answer this question by comparing Malaysian Islamic and conventional security prices and their response to macrofinancial factors. Our analysis suggests that Islamic and conventional bond and equity prices are driven by...
Persistent link: https://www.econbiz.de/10009618564
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Macroeconomic Fundamentals, Price Discovery and Volatility Dynamics in Emerging Markets
Fund, International Monetary - 2009
This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility respond to news about macroeconomic fundamentals. As in mature bond markets, macroeconomic surprises in external emerging bond markets are found to a¤ect both conditional...
Persistent link: https://www.econbiz.de/10012677485
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Asset Bubbles
Jones, Bradley - 2015
In distilling a vast literature spanning the rational- irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by sophisticated...
Persistent link: https://www.econbiz.de/10012686794
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Default, Credit Growth, and Asset Prices.
Segoviano Basurto, Miguel A - 2006
Persistent link: https://www.econbiz.de/10012691020
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Are Asset Price Guarantees Useful for Preventing Sudden Stops? A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff.
Durdu, Ceyhun Bora - 2006
Intro -- Contents -- I. INTRODUCTION -- II. A MODEL OF GLOBALIZATION HAZARD AND PRICE GUARANTEES -- III. CHARACTERIZING THE GLOBALIZATION HAZARD-MORAL HAZARD TRADEOFF -- IV. QUANTITATIVE ANALYSIS -- V. NORMATIVE IMPLICATIONS AND SENSITIVITY ANALYSIS -- VI. CONCLUSIONS -- REFERENCES.
Persistent link: https://www.econbiz.de/10012691021
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Macrofinancial modeling at central banks : recent developments and future directions
Roger, Scott; Vlček, Jan - 2012
This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and financial stability analysis. It highlights the need to develop macrofinancial models...
Persistent link: https://www.econbiz.de/10009423918
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Peru : monetary and exchange rate policies, 1930 – 1980
Pastor, Gonzalo - 2012
This paper reviews monetary and exchange rate policies in Peru in 1930-80. The review covers major transformations to the world economy, including the post-1929 crash and WWII, and changing economic paradigms, such as the collapse of the gold standard and the rise and fall of the Bretton Woods...
Persistent link: https://www.econbiz.de/10009618509
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Monetization in low- and middle-income countries
McLoughlin, Cameron; Kinoshita, Noriaki - 2012
The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...
Persistent link: https://www.econbiz.de/10009618525