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Wealth Effects on Money Demand in EMU : Econometric Evidence
Boone, Laurence - 2004
This paper investigates the determinants of money demand (M3) in the euro area. It specifically examines the potential impact of financial and housing wealth on money demand. It tests the hypothesis, whether wealth associated with increases in asset prices is used to finance liquidity holdings...
Persistent link: https://www.econbiz.de/10012445116
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Wealth Effects on Money Demand in EMU: Econometric Evidence
Boone, Laurence; Mikol, Fanny; Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2004
This paper investigates the determinants of money demand (M3) in the euro area. It specifically examines the potential impact of financial and housing wealth on money demand. It tests the hypothesis, whether wealth associated with increases in asset prices is used to finance liquidity holdings...
Persistent link: https://www.econbiz.de/10005045941
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Prudential Regulation and Competition in Financial Markets
Ahrend, Rudiger; Arnold, Jens; Murtin, Fabrice - Economics Department, Organisation de Coopération et … - 2009
This paper examines how a range of stability-oriented regulatory policies for banking and insurance are related to … selected stability and competition outcomes in these sectors. Based on survey information on financial market regulation … financial crisis, the indicators correlate well with different measures of financial stability, both during the recent crisis …
Persistent link: https://www.econbiz.de/10008498028
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Reforming China's Monetary Policy Framework to Meet Domestic Objectives
Conway, Paul - 2010
As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates. With money market conditions increasingly influencing effective commercial lending rates, the PBoC is also able to affect the cost of...
Persistent link: https://www.econbiz.de/10012444580
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Secular Stagnation: Evidence and Implications for Economic Policy
Rawdanowicz, Łukasz; Bouis, Romain; Inaba, Kei-Ichiro; … - Economics Department, Organisation de Coopération et … - 2014
This paper investigates whether OECD countries are facing secular stagnation. Secular stagnation is defined as a situation when policy interest rates bounded at zero fail to stimulate demand sufficiently, due to low or negative neutral real interest rates and low inflation, and when ensuing...
Persistent link: https://www.econbiz.de/10011276801
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The pass-through of the monetary policy rate into lending rates in Mexico
Maravalle, Alessandro - 2022
This paper estimates the pass-through of monetary policy rates into five lending rates in Mexico using auto regressive distributed lags models (ARDLs) and taking into account several financial market characteristics. Results show that the pass-through of monetary policy into the average...
Persistent link: https://www.econbiz.de/10013523742
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Reforming China's Monetary Policy Framework to Meet Domestic Objectives
Conway, Paul; Herd, Richard; Chalaux, Thomas - Economics Department, Organisation de Coopération et … - 2010
As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates. With money market conditions increasingly influencing effective commercial lending rates, the PBoC is also able to affect the cost of...
Persistent link: https://www.econbiz.de/10008764467
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Effects of Economic Policies on Microeconomic Stability
Cournède, Boris; Garda, Paula; Ziemann, Volker - Economics Department, Organisation de Coopération et … - 2015
Economic policies shape how much people earn as well as how stable their income and jobs are. The level and stability …-level economic stability. Movement from less to more productive processes and firms is at the heart of economic growth, which … suggests a trade-off between growth and micro-level stability. Certain policy changes boost growth but increase micro …
Persistent link: https://www.econbiz.de/10011276921
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The Demand for Money and Velocity in Major OECD Countries
Blundell-Wignall, A. - 1984
In recent years the behaviour of the income velocity of money in major OECD economies has displayed considerable volatility for both narrow and broad monetary aggregates (Table 1). Velocity in a number of large OECD economies, for example, fell sharply in 1982. Most notably, declines in the...
Persistent link: https://www.econbiz.de/10012445674
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Overcoming the Financial Crisis in the United States
De Michelis, Andrea - 2011
The global financial crisis that emerged in mid-2007 has caused considerable economic disruptions in the United States and elsewhere, and exposed major flaws in the global financial system. After examining the origins of the crisis, this paper recommends specific policy responses to resolve the...
Persistent link: https://www.econbiz.de/10013125400