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Transaction balances of small denomination banknotes : findings from the introduction of ES2
Bartzsch, Nikolaus - 2017
that are held for transaction purposes both in Germany and outside the euro area. The estimation of the volume of €20 … statistical terms, each resident living in Germany was therefore issued with around 30 banknotes of this denomination. Up until … now, it was not clear how many of these German-issued euro banknotes are actually used for payment purposes. Owing to the …
Persistent link: https://www.econbiz.de/10011731375
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Transaction balances : from accounting and economics to biology
Bartzsch, Nikolaus; Seitz, Franz - 2016
Persistent link: https://www.econbiz.de/10011444030
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A Monetary Base Analysis and Control Model
Gursel, Haluk Ferden - 2019
This report is one of the first studies discussing monetary base analysis and control model, a concept even today is alive and more developed by, for example, by IMF to use its analysis. The study presents monetary base approach to control of money flows and the links between monetary base,...
Persistent link: https://www.econbiz.de/10012892419
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Some Alternative Monetary Facts
Stella, Peter; Singh, Manmohan; Bhargava, Apoorv - 2021
In this paper, we discuss the modern history of monetarism and its alternatives, as well as the changing empirical relationship of various measures of money and inflation. After demonstrating that previous naïve correlations between money and inflation as established in the 20th century...
Persistent link: https://www.econbiz.de/10013243075
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Proposals for monetary reform : a critical assessment using the general quantity equation by Wolfgang Stützel
Tarne, Ruben - 2018
Europe is still suffering from the turmoil created by the Great Financial Crisis. Finding solutions to the danger of new financial crises is an important criterion for a stable European Union. Proponents of the Sovereign Money System (SMS) identify the ability of private banks to create money as...
Persistent link: https://www.econbiz.de/10011808854
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Currency Substitution and the Moneyness of Monetary Assets
Morón, Eduardo A. - 1998
The previous literature on dollarization processes has two basic problems. First is the poor empirical methods of measurement, and second is the lack of a clear definition of the phenomenon under study. Several methodological problems have not been successfully addressed. Foreign currency...
Persistent link: https://www.econbiz.de/10014068081
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Two Papers on the Volatility of Money Stock Targeting
Tinsley, Peter A.; Von zur Mühlen, Peter; Fries, Gerhard - 2022
This paper introduces an empirical measure of the cost of allocating money market volatility between the money stock and the Federal funds rate, the principal purpose being to devise a framework for data-based measures of the short-run implied by alternative operating procedures
Persistent link: https://www.econbiz.de/10013403837
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The optimal supply of central bank reserves under uncertainty
Afonso, Gara; La Spada, Gabriele; Mertens, Thomas; … - 2023 - Revised December 2023
This paper provides an analytically tractable theoretical framework to study the optimal supply of central bank reserves when the demand for reserves is uncertain and nonlinear. We fully characterize the optimal supply of central bank reserves and associated market equilibrium. We find that the...
Persistent link: https://www.econbiz.de/10014426250
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Consumer Preferences, the Demand for Divisia Money, and the Welfare Costs of Inflation
Serletis, Apostolos; Xu, Libo - 2022
This paper uses neoclassical demand theory to calculate the welfare costs of inflation. It considers the demand interactions between money, consumption goods, and leisure, relaxes the assumption of fixed consumer preferences, and addresses the inter-related problems of estimation of money demand...
Persistent link: https://www.econbiz.de/10014256364
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Why Central Banks (and Money) 'Rule the Roost'
Sardoni, Claudio - 2006
Some have argued that a significant decrease in the demand for money, due to financial innovations, could imply that central banks are unable to implement effective monetary policies. This paper argues that central banks are always able to influence the economy's interest rates, because their...
Persistent link: https://www.econbiz.de/10012733380