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Imbs, Jean; Rancière, Romain - Department of Economics and Business, Universitat … - 2005

We revisit the debt overhang question. We first use non-parametric techniques to isolate a panel of countries on the downward sloping section of a debt Laffer curve. In particular, overhang countries are ones where a threshold level of debt is reached in sample, beyond which (initial) debt ends...

Persistent link: https://www.econbiz.de/10005707944

A gazdagsági stagnálás 'színe' és fonákja: Jó az exporttöbblet és az adósságcsökkenés, de rossz a tőkekiáramlás és a beruházás-visszaesés?

Halpern, László; Oblath, Gábor - 2014

Over the last few years Hungary has posted large and increasing surpluses in its trade balance. The country has also become a net lender to the rest of the world, revealed by the surplus in the current and capital account of the balance of payments. These developments are mirrored by significant...

Persistent link: https://www.econbiz.de/10010494582

A gazdagsági stagnálás „színe” és fonákja : jó az exporttöbblet és az adósságcsökkenés, de rossz a tőkekiáramlás és a beruházás-visszaesés?

Halpern, László; Obláth, Gábor - 2014

Persistent link: https://www.econbiz.de/10010359973

The Pros and Cons of Higher Transparency: The Case of Speculative Attacks

Allegret, Jean-Pierre; Cornand, Camille - HAL - 2006

The aim of this paper is to evaluate to what extent more transparency can reduce the occurrence of speculative attacks …. It proposes a survey of the literature about the pros and cons of transparency on the exchange rate market, which is one … of the main pillars of the new international financial architecture. The effects of transparency are shown to be …

Persistent link: https://www.econbiz.de/10008792045

Pénz és kamat. A monetáris politika megújítása. (Money and Interest Rate. A New Approach to Monetary Policy)

Abel, Istvan - 2020

Hungarian Abstract: A hagyományos közgazdaságtan a reálelemzés keretében érvel, és ez akadálya a valós gazdasági folyamatok megértésének. Schumpeter és Keynes kritizálta ezt a megközelítést és helyette a monetáris elemzést alkalmazta. Ezt az elméleti alapvetést követem,...

Persistent link: https://www.econbiz.de/10012849610

Estructura de Tasas de Interés en Chile: ¿Qué tan Buen Predictor de Crecimiento e Inflación?

Fernández, Viviana - In: Latin American Journal of Economics-formerly Cuadernos … 37 (2000) 111, pp. 373-404

Based upon Granger causality and Pesaran-Shin’s generalized impulse-response functions, this paper studies the link between the term structure and economic growth, and the link between the term structure and actual and expected percent changes of the Cons

Persistent link: https://www.econbiz.de/10005212155

Bidding in fixed rate tenders: theory and experience with the ECB tenders

Välimäki, Tuomas - Suomen Pankki - 2002

This paper presents a model of the optimal bidding behaviour of a single bank in the context of fixed rate liquidity tenders. Banks’ bidding is shown to depend crucially on the central bank’s liquidity policy as regards tender allotments. The paper also analyses ECB liquidity policy in terms...

Persistent link: https://www.econbiz.de/10005648869

Monetary Policy and Market Interest Rates

Ellingsen, Tore; Söderström, Ulf - Economics Institute for Research (SIR), … - 1998

We investigate, theoretically and empirically, the relationship between monetary policy and the term structure of interest rates. In particular, we show in a dynamic macroeconomic model that if monetary policy reveals information about economic developments, interest rates of all maturities move...

Persistent link: https://www.econbiz.de/10005649304

Monetary policy with uncertain parameters

Söderström, Ulf - Economics Institute for Research (SIR), … - 1999

In a simple dynamic macroeconomic model, it is shown that uncertainty about structural parameters does not necessarily lead to more cautious monetary policy, refining the accepted wisdom concerning the effects of parameter uncertainty on optimal policy. In particular, when there is uncertainty...

Persistent link: https://www.econbiz.de/10005649477

Kelet-közép európai devizaárfolyamok elõrejelzése határidõs árfolyamok segítségével

Darvas, Zsolt; Schepp, Zoltán - Közgazdaságtudományi Kar, Pécsi Tudományegyetem - 2007

Írásunkban azt vizsgáljuk, hogy a hosszú lejáratú határidõs árfolyamok stacionaritását feltételezõ hibakorrekciós modellek, amelyek korábbi számítások szerint a világ devizapiaci forgalmának mintegy 75%-át kitevõ fejlett ipari országokra alkalmazva kitûnõ mintán...

Persistent link: https://www.econbiz.de/10008578165