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Economic policy in India: For economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
measures have also loomed over the global recession. This paper highlights the theoretical fallacies of monetarism and analyzes …
Persistent link: https://www.econbiz.de/10010513081
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Is monetary financing inflationary? A case study of the Canadian economy, 1935 - 75
Ryan-Collins, Josh - 2015
to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …
Persistent link: https://www.econbiz.de/10011545308
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A framework for understanding inflation - with or without money
Bengtsson, Ingemar - 2005
This paper presents a model that pictures how inflation is determined in a decentralized market process where prices … setters of sequential contracts. An important property of the model is that inflation thus can be explained without any … reference to the quantity of money.Following up the finding that inflation is determined in a coordination game, it is …
Persistent link: https://www.econbiz.de/10013208483
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Seven replies to the critiques of Modern Money Theory
Tymoigne, Éric - 2021
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained …
Persistent link: https://www.econbiz.de/10012818360
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The federal funds market, excess reserves, and unconventional monetary policy
Güntner, Jochen Hermann Friedrich - 2013
Following the bankruptcy of Lehman Brothers, interbank borrowing and lending dropped, whereas reserve holdings of depository institutions skyrocketed, as the Fed injected liquidity into the U.S. banking sector. This paper introduces bank liquidity risk and limited market participation into a...
Persistent link: https://www.econbiz.de/10010368267
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The role of nonbank financial institutions in the monetary transmission mechanism: Theory and evidence
Yu, Sung-Eun - 2017
Nonbank financial institutions (NBFIs) have substantially increased their market share since 1980s. In spite of the growing importance of NBFIs, they have received much less attention in the monetary transmission mechanism. This paper examines if monetary policy affects NBFIs in the similar way...
Persistent link: https://www.econbiz.de/10011882750
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The behavior of small and large firms during business cycle episodes and during monetary policy episodes: A comparison of earlier and recent periods
Yu, Sung-Eun - 2017
I provide more evidence on the behavior of small and large firms, employing the Flow of Funds data, the QFR data and other sources. The empirical test to examine behavior of small and large firms is conducted in two ways: (1) by different episodes, tight monetary policy episodes and business...
Persistent link: https://www.econbiz.de/10011882751
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Money and the transmission of monetary policy
Carpenter, Seth; Demiralp, Selva - 2009
The transmission mechanism of monetary policy has received extensive treatment in the macroeconomic literature. Most models currently used for macroeconomic analysis exclude money or else model money demand as entirely endogenous. Nevertheless, academic research and many textbooks continue to...
Persistent link: https://www.econbiz.de/10010273662
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Trade Credit and the Bank Lending Channel
Nilsen, Jeffrey H. - 1999
The bank lending channel theory posits that during monetary contractions banks restrict some firms' loans, thus …
Persistent link: https://www.econbiz.de/10011430008
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The Impact of Interest Rate Risk on Bank Lending
Beutler, Toni; Bichsel, Robert; Bruhin, Adrian; Danton, … - 2015
In this paper, we empirically analyze the transmission of realized interest rate risk - the gain or loss in bank economic capital due to movements in interest rates - to bank lending. We exploit a unique panel data set that contains supervisory information on the repricing maturity profiles of...
Persistent link: https://www.econbiz.de/10011430117