Narrow search
Showing 1 - 10 of 1,443
Cover Image
Optimal macroprudential policy and asset price bubbles
Biljanovska, Nina; Górnicka, Lucyna; Vardoulakis, … - 2019
An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time …, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytically and quantitatively … that the macroprudential policy should optimally respond to building asset price bubbles non-monotonically depending on the …
Persistent link: https://www.econbiz.de/10012103635
Cover Image
Fundamental and speculative demands for housing
Lian, Weicheng - 2019
This paper separates the roles of demand for housing services and belief about future house prices in a house price cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality conditions of producing housing services determine...
Persistent link: https://www.econbiz.de/10012009613
Cover Image
Deposit Insurance Regulatory forbearance and Economic Growth : Implications for the Japanese Banking Crisis
Kletzer, Kenneth - 2005
An endogenous growth model with financial intermediation demonstrates how deposit insurance and prudential regulatory forbearance lead to banking crises and growth declines. The model assumptions are based on features of the Japanese financial system and regulation. The model demonstrates how...
Persistent link: https://www.econbiz.de/10014404180
Cover Image
Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market
International Monetary Fund - 1990
This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator”...
Persistent link: https://www.econbiz.de/10014396173
Cover Image
Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market
International Monetary Fund - 1990
speculative bubbles …
Persistent link: https://www.econbiz.de/10014396182
Cover Image
Crypto, corruption, and capital controls : cross-country correlations
Alnasaa, Marwa; Georgiev, Nikolaj; Honda, Jiro; … - 2022
Persistent link: https://www.econbiz.de/10013169885
Cover Image
Falling use of cash and demand for retail central bank digital currency
Tanai Khiaonarong; Humphrey, David B. - 2022
Cash use in most countries is falling slowly. On the margin, younger adults favor cash substitutes over cash. For older adults it is the reverse. Revealed preference tied to a changing population age structure seems to be the main influence on the demand for cash and why it is falling. Cash use...
Persistent link: https://www.econbiz.de/10013170282
Cover Image
Legal aspects of central bank digital currency : central bank and monetary law considerations
Bossu, Wouter; Itatani, Masaru; Margulis, Catalina; … - 2020
This paper analyzes the legal foundations of central bank digital currency (CBDC) under central bank and monetary law. Absent strong legal foundations, the issuance of CBDC poses legal, financial and reputational risks for central banks. While the appropriate design of the legal framework will...
Persistent link: https://www.econbiz.de/10012392619
Cover Image
A survey of research on retail central bank digital currency
Kiff, John; Alwazir, Jihad; Davidovic, Sonja; Farias, … - 2020
This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussions among stakeholders. It looks at the reasons why central banks are exploring...
Persistent link: https://www.econbiz.de/10012252038
Cover Image
Cash use across countries and the demand for central bank digital currency
Tanai Khiaonarong; Humphrey, David B. - 2019
The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card-not better. Demand for digital currency will thus be weak...
Persistent link: https://www.econbiz.de/10012009449