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Monetary Policy Implementation : Misconceptions and Their Consequences
Disyatat, Piti - 2013
Despite constituting the very heart of the monetary transmission mechanism, widespread misconceptions still exist regarding how monetary policy is implemented. This paper highlights the key misconceptions in this regard and shows how they have compromised the understanding of important aspects...
Persistent link: https://www.econbiz.de/10012710838
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The bank lending channel revisited
Disyatat, Piti - Bank für Internationalen Zahlungsausgleich <Basel> - 2010
A central proposition in research on the role that banks play in the transmission mechanism is that monetary policy imparts a direct impact on deposits and that deposits, insofar as they constitute the supply of loanable funds, act as the driving force of bank lending. This paper argues that the...
Persistent link: https://www.econbiz.de/10005871023
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The Bank Lending Channel Revisited
Disyatat, Piti - 2011
A central proposition in research on the role of banks in the transmission mechanism is that monetary policy imparts a direct impact on deposits and that deposits act as the driving force of bank lending. This paper argues that the emphasis on policy-induced changes in deposits is misplaced. A...
Persistent link: https://www.econbiz.de/10013122491
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The Bank Lending Channel Revisited
Disyatat, Piti - 2013
A central proposition in research on the role that banks play in the transmission mechanism is that monetary policy imparts a direct impact on deposits and that deposits, insofar as they constitute the supply of loanable funds, act as the driving force of bank lending. This paper argues that the...
Persistent link: https://www.econbiz.de/10013095074
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Do we need central bank digital currency? Economics, technology and institutions
Gnan, Ernest (contributor); Masciandaro, Donato (contributor) - 2018
Persistent link: https://www.econbiz.de/10011985213
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Do we need central bank digital currency? : economics, technology and institutions
Gnan, Ernest (ed.); Masciandaro, Donato (ed.) - Do We Need Central Bank Digital Currency?: Economics, …; … - 2018
Persistent link: https://www.econbiz.de/10011944433
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The macroeconomic effects of different CBDC regimes in an economy with a heterogeneous household sector
Magin, Jana Anjali; Neyer, Ulrike; Stempel, Daniel - 2023
of conventional forms of money and CBDC. We analyze the impact of four different CBDC regimes: (i) no CBDC, (ii) each …
Persistent link: https://www.econbiz.de/10014229087
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Quantum Money
Ledenyov, Dimitri - 2015
The quantum money (q-money) as a possible convenient, socially innovative, technologically attractive and user … a number of topics: 1. The historical evolution of the money in the financial systems within the economies of the scales … and scopes over the centuries. 2. The definition on the electronic money in the financial systems within the economies of …
Persistent link: https://www.econbiz.de/10013011623
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Constructing divisia monetary aggregates for Singapore
Barnett, William A.; Nguyen, Van H. - In: Journal of Risk and Financial Management 14 (2021) 8, pp. 1-15
Since Barnett derived the user cost price of money, the economic theory of monetary services aggregation has been … money. Is that because quantities of money are irrelevant to economic activity? To examine the role of monetary quantities … Singapore, this paper applies the user cost of money formula and the recently developed credit-card-augmented Divisia monetary …
Persistent link: https://www.econbiz.de/10013201054
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Who Should Make Kroner? - A Review of Danmarks Nationalbank's Analysis of CBDC
Bjerg, Ole - 2018
This paper is a review of Danmarks Nationalbank's recent analysis of the prospects of implementing a Central Bank Digital Currency (CBDC) in Denmark. We concur with Nationalbanken's conclusion that CBDC does not add efficiency or further functionality to existing payment solutions. We argue,...
Persistent link: https://www.econbiz.de/10012927422