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Aggregation-theoretic monetary aggregation over the euro area, when countries are heterogeneous
Barnett, William A. - 2003
We derive fundamental new theory for measuring monetary service flows aggregated over countries within the European Monetary Union (EMU). We develop three increasingly restrictive approaches: (1) the heterogeneous agents approach, (2) the multilateral representative agent approach, and (3) the...
Persistent link: https://www.econbiz.de/10009635917
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Money and payments
Holthausen, Cornelia; Monnet, Cyril - 2003
The role of money in society has been a controversial topic in economic theory over many years. Particular attention has been devoted to the analysis whether there should be competition in the supply of money, or whether this is best left to a governmental agency. This paper reviews the...
Persistent link: https://www.econbiz.de/10009635956
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Aggregation-theoretic monetary aggregation over the euro area, when countries are heterogeneous
Barnett, William A. (contributor) - 2003
Persistent link: https://www.econbiz.de/10001820908
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Optimal monetary policy in a new Keynesian model with habits in consumption
Leith, Campbell B.; Moldovan, Ioana R.; Rossi, Raffaele - 2009
While consumption habits have been utilised as a means of generating a hump shaped output response to monetary policy shocks in sticky-price New Keynesian economies, there is relatively little analysis of the impact of habits (particularly, external habits) on optimal policy. In this paper we...
Persistent link: https://www.econbiz.de/10003867095
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Systemic risk and financial development in a monetary model
Moutot, Philippe Pierre - 2011
In a stochastic pure endowment economy with money but no financial markets, two types of agents trade one non-durable good using two alternative types of cash constraints. Simulations of the corresponding variants are compared to Arrow-Debreu and Autarky equilibriums. First, this illustrates how...
Persistent link: https://www.econbiz.de/10009160002
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Is quantity theory still alive?
Teles, Pedro; Uhlig, Harald - 2013
Persistent link: https://www.econbiz.de/10010210589
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The information content of money and credit for US activity
Albuquerque, Bruno; Baumann, Ursel; Seitz, Franz - 2015
Persistent link: https://www.econbiz.de/10011288696
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Bank funding costs and solvency
Arnould, Guillaume; Pancaro, Cosimo; Żochowski, Dawid - 2020
This paper investigates the relationship between bank funding costs and solvency for a large sample of euro area banks … relationship between bank solvency, on the one hand, and senior bond yields, term deposit rates and overnight deposit rates, on the … other. The analysis finds a significant negative relationship between bank solvency and the different types of funding costs …
Persistent link: https://www.econbiz.de/10012139725
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Bank lines of credit as contingent liquidity : a study of covenant violations and their implications
Acharya, Viral V.; Almeida, Heitor; Ippolito, Filippo; … - 2014
Persistent link: https://www.econbiz.de/10010441321
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Negative interest rates, excess liquidity and retail deposits : banks' reaction to unconventional monetary policy in the euro area
Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - 2019
Negative monetary policy rates are associated with a particular friction because the remuneration of retail deposits tends to be floored at zero. We investigate whether this friction affects banks’ reactions when the policy rate is lowered to negative levels, compared to a standard rate cut in...
Persistent link: https://www.econbiz.de/10012009191