Showing 1 - 10 of 670
The present study applies purpose-built dynamic computable general equilibrium models for Ghana and Kenya with a disaggregated country-specific representation of the power sector to simulate the prospective medium-run growth and distributional implications associated with a shift towards a...
Persistent link: https://www.econbiz.de/10012894601
The bargaining power of international banks is currently still very high as compared to what it was at the time of the Bretton Woods conference. As a consequence, systemic financial crises are likely to remain recurrent phenomena with large effects on macroeconomic aggregates. Mainstream...
Persistent link: https://www.econbiz.de/10011257997
The paper sets out to determine the impact of monetary policy on the Nigerian economy during the post-reform period using annual series data (1986 – 2006). Trend discussion of some basic macroeconomic indicators on the Nigerian economy among others reveal that (a) the Central Bank of Nigeria...
Persistent link: https://www.econbiz.de/10009132736
This paper develops a calibrated DSGE model for simulating China’s monetary policy and macroprudential policy. The empirical results show, first, that the interest rate is a better instrument for China’s monetary policy than the required reserve ratio when the central bank is solely...
Persistent link: https://www.econbiz.de/10011195674
This paper compares monetary policy in the US and EMU during the last decade, employing an estimated hybrid New Keynesian cash-in-advance model, driven by five shocks. It appears that the difference between the two monetary policies between 1998 and 2006 is due to both surprises in productivity...
Persistent link: https://www.econbiz.de/10005787158
market returns volatility. The squared residuals of the GARCH(1,1) regression model proxied macroeconomic uncertainty levels …
Persistent link: https://www.econbiz.de/10012866688
measures of investors’ risk aversion are used: (a) the implied volatility from the Eurostoxx 50 index (VSTOX) and (b) an index … the period January 1999 to August 2007, our results show that a shock in the risk aversion indicator affects negatively … future real activity in the eurozone in a similar way to an exchange rate shock. The ECB reacts significantly to a risk …
Persistent link: https://www.econbiz.de/10008680305
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 … underpinning of the interest rates volatility transmission process found in other countries. Moreover, the results also suggest …
Persistent link: https://www.econbiz.de/10011107405
: (i) monetary volatility negatively affects long-run growth; (ii)the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …
Persistent link: https://www.econbiz.de/10008685157
; (iii) network-based accelerator - the network structure may propagate the initial shock possibly resulting in an avalanche … of bankruptcies. In this framework, we find that stock market volatility may damage the real economy if the stock market … is too relevant. In particular, an increase of volatility worsens the economic performance through the stock market …
Persistent link: https://www.econbiz.de/10011253063