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Return and volatility spillovers: evidence from Indian exchange rates

Kumar, Manish - In: International Journal of Economics and Business Research 3 (2011) 4, pp. 371-387

This study examines the nature of interdependence, and return and volatility spillovers, for three Indian exchange rates: US dollar (USD), Euro and British Pound. We use the spillover index methodology of Diebold and Yilmaz (2009) to analyse precisely and independently the returns and volatility...

Persistent link: https://www.econbiz.de/10009352440

EMU's flawed economic constitution: macroeconomic policy disabled

Martin, Andrew - In: International Journal of Economics and Business Research 2 (2010) 1/2, pp. 60-75

EMU's design is seriously flawed. Monetary union was established without political union, creating a single eurozone …. Its exceptionally independent central bank, the ECB, sets monetary policy for the eurozone economy as a whole, but it has … no institutions for setting a eurozone-wide fiscal policy, and hence no democratically accountable structure for setting …

Persistent link: https://www.econbiz.de/10010669620

Does central bank independence really matter? Re-assessing the role of the independence of monetary policy-makers in macroeconomic outcomes

Zervoyianni, Athina; Anastasiou, Athanasios; … - In: International Journal of Economics and Business Research 8 (2014) 4, pp. 427-473

Despite the growing literature, central bank independence (CBI) is still one of the most controversial and frequently discussed issues in macroeconomics. This paper re-examines the role of central bank independence in macroeconomic outcomes, seeking to add to the existing empirical literature in...

Persistent link: https://www.econbiz.de/10010944854

Empirical analysis of monetary policy reaction function in an emerging African market economy

Were, Maureen - In: International Journal of Economics and Business Research 8 (2014) 3, pp. 340-353

The paper analyses monetary policy reaction function for Kenya using quarterly data for the period 1999 to 2011. The empirical results show a strong effect of interest rate smoothing and support the fact that monetary policy was accommodative of the output growth objective. The response to...

Persistent link: https://www.econbiz.de/10010944855

Bank lending channel of monetary policy transmission: India and the global financial crisis

Islam, M. Shahidul; Rajan, Ramkishen S. - In: International Journal of Economics and Business Research 3 (2011) 5, pp. 557-575

This paper examines the role of bank lending channel of monetary policy in India during the global financial crisis, especially following the collapse of Lehman Brothers in late 2008. Contrary to popular perceptions, and in contrast to the USA, this paper shows that following the Reserve Bank of...

Persistent link: https://www.econbiz.de/10009352472

Contending with liberalisation: crisis and recovery of the Argentine banking sector in the period of 1994 to 2011

Doyran, Mine Aysen; Erdogan, Emre - In: International Journal of Economics and Business Research 6 (2013) 3, pp. 261-283

From the early 1990s until 1998, Argentina liberalised its banking system as part of a strategy to enter a globalised economy. The subsequent monetary policies, combined with 'convertibilidad' and an elevated government debt, led to a loss of confidence in the financial system, ending in the...

Persistent link: https://www.econbiz.de/10010691752

Ten years EMU: an assessment of ten critical claims

Verdun, Amy - In: International Journal of Economics and Business Research 2 (2010) 1/2, pp. 144-163

This paper seeks to review a selection of ten salient critical claims about Economic and Monetary Union (EMU) that were heard in the 1990s in either the Political Science literature or the Economics literature or both. In this paper, the author focuses on five salient Political Science claims...

Persistent link: https://www.econbiz.de/10010691755