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Optimal Monetary Policy and Downward Nominal Wage Rigidity in Frictional Labor Markets.
Abo-Zaid, Salem - Volkswirtschaftliche Fakultät, … - 2009
shows that when nominal wages are downwardly rigid, optimal monetary policy targets a positive inflation rate; the annual … long-run inflation rate is around 2 percent. Positive inflation in this environment “greases the wheels” of the labor …, particularly those of large sizes. Finally, the optimal long-run inflation rate predicted by this study is considerably higher than …
Persistent link: https://www.econbiz.de/10008565428
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DAS MONETÄRE SYSTEM DER REPUBLIK KROATIEN IN DER TRANSITION UND SEIN EINFLUSS AUF DAS SYSTEM DES ÖFFENTLICHEN FINANZEN
Srb, Vladimir; Matić, Branko; Marković, Branimir - Volkswirtschaftliche Fakultät, … - 1999
The paper delineates the properties and specificities of modern Croatian money-market transactions and their transition as well as the Solutions applied in this segment by the Republic of Croatia from the moment of declaration ofits in dependence up to nowadays. Such a contemporary monetary...
Persistent link: https://www.econbiz.de/10005836396
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Did Greenspan Open Pandora's Box? Testing the Taylor Hypothesis and Beyond
Palma, Nuno - Volkswirtschaftliche Fakultät, … - 2013
The Taylor hypothesis is the conjecture that the 2007-2009 financial crisis and the 2008-present downturn have been caused by loose monetary policy during 2002-2006. According to the Taylor hypothesis the Fed deviated from well-know rules of monetary policy-making over this period, and this...
Persistent link: https://www.econbiz.de/10011107274
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Monetary policy rules and indterminacy
Sosunov, Kirill; Khramov, Vadim - Volkswirtschaftliche Fakultät, … - 2008
In recent papers it is shown that in the presence of price stickiness, investment and capital accumulation activity, active monetary policy (MP) rules can lead to indeterminacy under various assumptions about the structure of the model. We analyze the conditions for real indeterminacy to occur...
Persistent link: https://www.econbiz.de/10005789610
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让实体经济和虚拟经济的耦合协调度最优
Tang, Linyao - Volkswirtschaftliche Fakultät, … - 2009
Abstract: Ever since the separation of the loan capital from the commercial capital and the industrial capital, the virtual economy has been generated and expanded gradually along with the economic development. The virtual economy is a double-edged sword: on one hand, it promotes the development...
Persistent link: https://www.econbiz.de/10008685036
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Volatility Transmission of Overnight Rate along the Yield Curve in Pakistan
Mahmood, Asif - Volkswirtschaftliche Fakultät, … - 2014
This paper presented the empirical results of the volatility transmission of overnight rate along the yield curve in case of Pakistan. The results indicate that the volatility transmission of overnight repo rate is higher at the shorter end of the yield curve while lower at the longer end. These...
Persistent link: https://www.econbiz.de/10011107405
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Uncertainty and the Zero Lower Bound: A Theoretical Analysis
Mendes, Rhys R. - Volkswirtschaftliche Fakultät, … - 2011
This paper demonstrates how to analytically characterize the set of rational expectations equilibria in a simple stochastic New Keynesian model with the zero lower bound. In this environment, purely forward-looking (non-history-dependent) monetary policies are not generally consistent with...
Persistent link: https://www.econbiz.de/10011107863
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A Comment on Chicago Rule, Chicago School, and Commercial Bank Seigniorage
varelas, erotokritos - Volkswirtschaftliche Fakultät, … - 2013
Chicago rule is shown to be the unique optimal monetary policy rule from the viewpoint of an intergenerational welfare-maximizing social planner. But, in the absence of commercial banking, it really mandates the elimination of the public sector, because it involves the elimination of central...
Persistent link: https://www.econbiz.de/10011109171
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The Impact of Interest Rate on Bank Deposits Evidence from the Nigerian Banking Sector
Ojeaga, Paul; Ojeaga, Daniel; Odejimi, Deborah O. - Volkswirtschaftliche Fakultät, … - 2013
The study investigates the effect of interest rates on customer savings behavior in the Nigerian banking sector, after identifying a host of factors that are likely to influence customer confidence in commercial banks such as average income, commercial lending, legal rights strength, central...
Persistent link: https://www.econbiz.de/10011109246
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The Chicago Tradition and Commercial Bank Seigniorage
Soldatos, Gerasimos T.; Varelas, Erotokritos - Volkswirtschaftliche Fakultät, … - 2014
Chicago rule is shown to be the unique optimal monetary policy rule from the viewpoint of an intergenerational welfare-maximizing social planner. But, in the absence of commercial banking, it really mandates the elimination of the public sector, because it involves the elimination of central...
Persistent link: https://www.econbiz.de/10011109358