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Why price inflation in developed countries is systematically underestimated
Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2012
Federal Reserve and the rate of inflation. Hence, the Federal Reserve actually retains its interest rate at the level of true … price inflation when corrected for the bias in the GDP deflator. …
Persistent link: https://www.econbiz.de/10011111323
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Crecimiento Económico de Largo Plazo en Antioquia, Colombia : Estimación del PIB, 1800-1913 (Long Term Economic Growth in Antioquia, Colombia: GDP Estimates, 1800-1913)
Mejia, Javier - 2012
Este trabajo realiza el primer análisis cuantitativo detallado del nivel de actividad económica de Antioquia para el siglo XIX y la primera parte del XX. A partir de los datos existentes para la economía colombiana, se reconstruye la que es, además, una de las primeras series de PIB regional...
Persistent link: https://www.econbiz.de/10014167721
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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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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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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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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 … experiment in which the effects of an adoption of inflation targeting after more than a decade can be evaluated. Not enough is … known about the consequences of inflation targeting credibility on both monetary policy and monetary policy transmission …
Persistent link: https://www.econbiz.de/10011271311
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Central banking and monetary management in islamic financial environment
Hanif, M. Nadim; Sheikh, Salman - Volkswirtschaftliche Fakultät, … - 2009
Continuous growth in Islamic finance calls for studying the framework in which the monetary policy maker (i.e., central bank) performs its functions. Central banks in Muslim countries are using various instruments for monetary policy purpose including interest rate. As a result, Islamic...
Persistent link: https://www.econbiz.de/10008543051
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The Excess Demand Theory of Money
Kehrwald, Bernie - Volkswirtschaftliche Fakultät, … - 2014
This paper introduces a new monetary theory. A simple model is described in which a central bank sets the interest rate in a way that the excess demand for credits equals the preferred amount of money. It is compatible with the Keynesian liquidity preference theory and the neoclassical loanable...
Persistent link: https://www.econbiz.de/10011156995
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An Empirical Study of the Fisher Effect and the Dynamic Relation Between Nominal Interest Rate and Inflation in Singapore
Lee, King Fuei - Volkswirtschaftliche Fakultät, … - 2007
The Fisher effect postulated that real interest rate is constant, and that nominal interest rate and expected inflation … interest rate and inflation rate while rejecting the notion of a full Fisher Effect. The dynamic relationship between nominal … interest rate and inflation rate is also examined from the error-correction models derived, and the analysis is extended to …
Persistent link: https://www.econbiz.de/10005837445
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The macroeconomic determinants of remittances in Bangladesh
Hasan, Mohammad Monirul - Volkswirtschaftliche Fakultät, … - 2008
paper find that the macroeconomic variables such as inflation, interest rate, exchange rate of Bangladesh and GDP of the …
Persistent link: https://www.econbiz.de/10008776839