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The Cost of Capital in Markets with Opaque Intermediaries and the Risk-Structure of Interest Rates
Mierzejewski, Fernando - 2009
The demand for cash balances of financial intermediaries that establish contractual liabilities with credit-sensitive customers is characterized. As stated by Merton, the success of the business activities of such firms crucially depends on their credit quality, and hence, they are obliged to...
Persistent link: https://www.econbiz.de/10013160192
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A Theory of Linkage between Monetary Policy and Banking Failure in Developing Countries
Cadet, Raulin Lincifort - Volkswirtschaftliche Fakultät, … - 2006
This paper presents a model of the banking sector that maximize profit and an individual bank which is a price taker, in a developing country. The interest rate on treasury bills is included in the model to measure monetary policy. The mathematical expression of the probability of banking...
Persistent link: https://www.econbiz.de/10005260080
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Impact of Monetary Policy on the Volatility of Stock Market in Pakistan
Qayyum, Abdul; Anwar, Saba - Volkswirtschaftliche Fakultät, … - 2011
This paper addresses the linkages between the monetary policy and the stock market in Pakistan. The estimation technique employed includes Engle Granger two step procedure and the bivariate EGARCH method. The results indicate that any change in the monetary policy stance have a significant...
Persistent link: https://www.econbiz.de/10009644158
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An Outline of the Existing Literature on Monetary Economics in India
Das, Rituparna - Volkswirtschaftliche Fakultät, … - 2010
As per the researchers on monetary economics, a detailed account of the changing role of money from Walrasian and Non-Walrasian settings to the more recent theories on the dynamics of the relationships between money, inflation and growth with reference to their historical evolution are available...
Persistent link: https://www.econbiz.de/10008533251
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La place du contrôle des mouvements de capitaux dans la politique économique française et les perspectives liées à son allégement
Galy, Michel - Volkswirtschaftliche Fakultät, … - 1986
This paper reviews the central features of France’s capital controls in the 70's and 80's and strives to assess their ability, in the context of various exchange rate mechanisms, to regulate capital flows and to stabilize the exchange rate while allowing France to preserve a measure of...
Persistent link: https://www.econbiz.de/10011170135
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The role of money in economies with monetary policy regimes that ignore monetary aggregates
Victor, Olivo - Volkswirtschaftliche Fakultät, … - 2011
This paper discusses the important issue of price level determinacy from a theoretical and empirical perspective. The theoretical section relies basically on a dynamic aggregate demand aggregate supply (AD-AS) model. In the empirical section, we try to assess the relative importance of money...
Persistent link: https://www.econbiz.de/10011110252
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El Régimen de Metas de Inflación en Brasil: Breve Descripción y Evaluación de su Desempeño
Victor, Olivo - Volkswirtschaftliche Fakultät, … - 2007
This paper presents a brief description of the operation of Brazil's Inflation Targeting regime, and an evaluation of its performance since its introduction in June 1999 until 2006.The performance of the regime is evaluated comparing the observed inflation values with the officially announced...
Persistent link: https://www.econbiz.de/10011110558
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Inflation, unemployment, and labour force. Phillips curves and long-term projections for Austria
Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2013
We model the rate of inflation and unemployment in Austria since the early 1960s within the Phillips/Fisher framework …. The change in labour force is the driving force representing economic activity in the Phillips curve. For Austria, this … power of the link between inflation and labour force imply that the National Bank of Austria does not control inflation and …
Persistent link: https://www.econbiz.de/10011110150
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A Model of Monetary Equilibrium with Random Output and Restricted Borrowing
Mierzejewski, Fernando - 2010
An alternative theoretical setting is presented to characterise the money demand and the monetary equilibrium. Two main hypotheses are stated that contradict the assumptions normally sustained by scholars and policy-makers: National output is assumed to be a random variable, and people are...
Persistent link: https://www.econbiz.de/10013148534
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Credibility and monetary policy under inflation targeting
mhamdi, ghrissi; aguir, abdelkader; farhani, ramzi - Volkswirtschaftliche Fakultät, … - 2015
After more than two decades of inflation targeting in the world, it is important to evaluate if the adoption of this regime in a relevant developing country contributed to the creation of a better environment for the process of entrepreneurs' expectations formation. Brazil is part of an...
Persistent link: https://www.econbiz.de/10011271311