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Coordination Failures and the Lender of Last Resort: Was Bagehot Right After All?
Rochet, Jean-Charles; Vives, Xavier - 2002
The classical doctrine of the Lender of Last Resort, elaborated by Thornton (1802) and Bagehot (1873), asserts that the Central Bank should lend to "illiquid but solvent" banks under certain conditions. Several authors have argued that this view is now obsolete: when interbank markets are...
Persistent link: https://www.econbiz.de/10009442355
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A large central bank balance sheet? : Floor vs corridor systems in a New Keynesian environment
Arce Hortigüela, Óscar Javier; Nuño Barrau, Galo; … - 2018
Las políticas de compra de activos (QE, por sus siglas en inglés) implementadas en los últimos años por los bancos centrales han tenido un impacto profundo en el funcionamiento de los mercados monetarios, dando lugar a un gran exceso de reservas bancarias y presionando los tipos de interés...
Persistent link: https://www.econbiz.de/10012532199
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CBDC and the operational framework of monetary policy
Abad, Jorge; Nuño, Galo; Thomas, Carlos
En este trabajo analizamos el impacto de la introducción de una moneda digital emitida por el banco central (CBDC, por sus siglas en inglés) sobre el marco operativo de la política monetaria y la macroeconomía en su conjunto. Para ello, desarrollamos un modelo neokeynesiano con bancos...
Persistent link: https://www.econbiz.de/10014573558
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Interbank Markets under Currency Boards
Jurgilas, Marius - 2006
This paper analyzes interbank markets under currency boards. Under such an environment, problematic endogeneity issues common to other monetary regimes do not arise. Using daily data from the interbank markets in Bulgaria and Lithuania we show, that contrary to the existing literature, overnight...
Persistent link: https://www.econbiz.de/10009430031
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Stock and index futures trading behaviour of individual and institutional investors
Goodfellow, Christiane - 2008
Kassamarkt beitragen, zeigen Privatanleger auf dem polnischen Kassamarkt Herdenverhalten, wenn die Marktrendite sinkt. Insgesamt …
Persistent link: https://www.econbiz.de/10009454732
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Rationales Herdenverhalten - Theorie, Empirie und Lösungsansätze
Freiberg, Nicole - 2004
Im Rahmen dieser Arbeit wird rationales Herdenverhalten anhand der Informationskaskadenmodelle sowie der … beantwortet, welche Annahmen unverzichtbar sind für das Auftreten von Herdenverhalten. Bezüglich der Empirie werden zwei … Fragestellungen untersucht. Zum einen wird analysiert, dass vorliegende, spezifische empirische Befunde zum Herdenverhalten eher mit …
Persistent link: https://www.econbiz.de/10009433677
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Retail Investor Sentiment and Behavior - an Empirical Analysis
Burghardt, Matthias - 2010
investors are on average contrarians who trade in a correlated way and exhibit herding behavior both on a market and a stock …
Persistent link: https://www.econbiz.de/10009434527
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Online Consumer Herding Behaviors in the Hotel Industry
Kwon, Jun Mo; Bae, Jung-in; Phelan, Kelly - 2011
not enough information (Huang & Chen, 2006). This phenomenon is called herding behavior. Many social media Web sites …
Persistent link: https://www.econbiz.de/10009467875
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The Shingo Prize for Operational Excellence: Rewarding World-Class Practices
Chakravorty, Satya S.; Atwater, J. Bryan; Herbert, James I. - 2008
Established in 1988, the Shingo Prize for Operational Excellence recognises organisations in the USA, Mexico and Canada …
Persistent link: https://www.econbiz.de/10009459022
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Determinants of the Relations between Transitory Earnings and CEO Cash Compensation in the USA
Asthana, Sharad; Ye, Zhongxia Shelly - 2007
effect). This study has practical implications for regulators, corporations and investors, both in the USA and abroad. …
Persistent link: https://www.econbiz.de/10009459069