Narrow search
Showing 1 - 10 of 484
Cover Image
Design Choices for Central Bank Digital Currency: Policy and Technical Considerations
Allen, Sarah; Capkun, Srdjan; Eyal, Ittay; Fanti, Giulia; … - 2020
Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs …
Persistent link: https://www.econbiz.de/10012270213
Cover Image
How Successful Are Banking Sector Reforms in Emerging Market Economies? Evidence from Impact of Monetary Policy on Levels and Structures of Firm Debt in India
Bhaumik, Sumon K.; Kutan, Ali M.; Majumdar, Sudipa - 2016
that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …
Persistent link: https://www.econbiz.de/10011525080
Cover Image
External monetary shocks and monetary integration: Evidence from the Bulgarian currency board
Minea, Alexandru; Rault, Christophe - 2011
Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...
Persistent link: https://www.econbiz.de/10010278761
Cover Image
External Monetary Shocks and Monetary Integration: Evidence from the Bulgarian Currency Board
Minea, Alexandru; Rault, Christophe - Institute for the Study of Labor (IZA) - 2011
Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...
Persistent link: https://www.econbiz.de/10009147299
Cover Image
Distributional Effects of Monetary Policy in Emerging Market Economies
Prasad, Eswar; Zhang, Boyang - 2015
We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10011307491
Cover Image
The impact of labor markets on the transmission of monetary policy in an estimated DSGE model
Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2005
Real wages are a key determinant of marginal costs. The latter themselves are a driving force of inflation. We ask how wages and labor market shocks feed into the inflation process. We model search and matching frictions in the labour market in an otherwise standard New-Keynesian closed economy...
Persistent link: https://www.econbiz.de/10010267340
Cover Image
Assessing Australian Monetary Policy in the Twenty-First Century
Gross, Isaac; Leigh, Andrew - 2022
Using the Reserve Bank of Australia's MARTIN model we compare actual monetary policy decisions to a counterfactual in … high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …
Persistent link: https://www.econbiz.de/10013426410
Cover Image
The Impact of Labor Markets on the Transmission of Monetary Policy in an Estimated DSGE Model
Christoffel, Kai; Kuester, Keith; Linzert, Tobias - Institute for the Study of Labor (IZA) - 2005
Real wages are a key determinant of marginal costs. The latter themselves are a driving force of inflation. We ask how wages and labor market shocks feed into the inflation process. We model search and matching frictions in the labour market in an otherwise standard New- Keynesian closed economy...
Persistent link: https://www.econbiz.de/10005762079
Cover Image
Finance and Growth at the Firm Level: Evidence from SBA Loans
Brown, J. David; Earle, John S. - 2015
We analyze linked databases on all Small Business Administration (SBA) loans, on all SBA lenders, and on all U.S. employers to estimate the effects of financial access on employment growth. Our methods combine regressions with matching on firm age, size, industry, year, and employment history,...
Persistent link: https://www.econbiz.de/10011307476
Cover Image
Reputation and credit market formation: how relational incentives and legal contract enforcement interact
Fehr, Ernst; Zehnder, Christian - 2009
surprisingly small impact on overall efficiency. The reason is that legal enforcement of debt repayments weakens relational …
Persistent link: https://www.econbiz.de/10010269410