Nepotism, corruption, conspiratorial concealment, greed and grotesque excesses all combine with what seems to have been a complete lack of appropriate controls and regulatory oversight that eventually distorted a European Utopian banking vision beyond all recognition

In this groundbreaking new study, IEA Fellow Tim Congdon argues that movements in the general level of asset prices (such as house prices and equity markets) are strongly influenced by the behaviour of the money supply.Congdon bases his conclusions on analyses of three episodes in the UK,...

Do banks play a special role in the transmission mechanism of monetary policy? I exploit the presence of internal capital markets in bank holding companies to isolate plausibly exogenous variation in the financial constraints faced by banks. I demonstrate that affiliated bank loan growth is less...

Jonathan Macey's recent article quot;Commercial Banking and Democracy: The Illusive Quest for Deregulationquot; offers such a problematic argument for banking regulation that it implies such regulation is losing its intellectual foundation

Since the early 1990s, the IMF has been advising countries to shift to the use of indirect instruments for executing monetary policy. This paper provides information about a monetary policy instruments database, maintained by the Monetary and Capital Markets Department of the IMF. We offer an...

This paper uses vector autoregressions to examine the monetary transmission mechanism in Japan. The empirical results indicate that both monetary policy and banks` balance sheets are important sources of shocks, that banks play a crucial role in transmitting monetary shocks to economic activity,...

Exploring the functioning of internal capital markets in financial conglomerates, this paper conducts a novel test of the credit channel of monetary policy. We look at differences in the response of lending to monetary policy shocks across small banks that are affiliated with the same bank...

I explore the functioning of inside money competition in an overlapping generations model to address the question of whether the base of currency supply should be a monopoly. In such an economy, banks enhance allocative efficiency by offering short-term contracts (banknotes) in order to finance...

The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...

The credit crises are the consequences of demonetization process failure of MONEY-LIABILITY. To initiate a treatment of this process more "overshadowed" by the financial-banking system, it is required a comprehensive analysis of GLOBAL DEBT; GLOBAL GDP and the ratio between them called...