Similar Search Results

Bond market inflation expectations and longer-term trends in broad monetary growth and inflation in industrial countries, 1880 - 2001

Dewald, William G. - 2003

u0093Bond Market Inflation Expectation and Longer-term Trends in Broad Monetary Growth and Inflation in Industrial … in inflation that were matched by growth rates in M2 and nominal GDP but not real GDP in each country and cross …-country averages. Inflationary expectations as estimated by bond rates less real growth trends indicated little inflation expectation …

Persistent link: https://www.econbiz.de/10009635923

The real effects of money growth in dynamic general equilibrium

Graham, Liam; Snower, Dennis J. - 2004

We analyse the effects of money growth within a standard New Keynesian framework and show that the interaction between staggered nominal contracts and money growth leads to a long-run trade-off between output and money growth. We explore the microeconomic mechanisms that lead to this trade-off,...

Persistent link: https://www.econbiz.de/10009639472

Money and payments

Holthausen, Cornelia; Monnet, Cyril - 2003

The role of money in society has been a controversial topic in economic theory over many years. Particular attention …

Persistent link: https://www.econbiz.de/10009635956

The Great Depression and the Friedman-Schwartz hypothesis

Christiano, Lawrence; Motto, Roberto; Rostagno, Massimo - 2004

We evaluate the Friedman-Schwartz hypothesis that a more accommodative monetary policy could have greatly reduced the severity of the Great Depression. To do this, we first estimate a dynamic, general equilibrium model using data from the 1920s and 1930s. Although the model includes eight...

Persistent link: https://www.econbiz.de/10009636549

Global policy at the zero lower bound in a large-scale DSGE model

Gomes, Sandra; Jacquinot, Pascal; Mestre, Ricardo; … - 2010

The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...

Persistent link: https://www.econbiz.de/10009640286

The impact of monetary policy shocks on commodity prices

Anzuini, Alessio; Lombardi, Marco J.; Pagano, Patrizio - 2010

Global monetary conditions have often been cited as a driving factor of commodity prices. This paper investigates the empirical relationship between US monetary policy and commodity prices by means of a standard VAR system, commonly used in analysing the effects of monetary policy shocks. The...

Persistent link: https://www.econbiz.de/10009640308

evidence from three inflation targeters

Andersson, Magnus; Hofmann, Boris - 2009

that long-term inflation expectations have been well anchored in the three economies, irrespective of whether forward …

Persistent link: https://www.econbiz.de/10009640489

A monthly monetary model with banking intermediation for the euro area

Bruggeman, Annick; Donnay, Marie - 2003

This monthly monetary model for the euro area is gradually constructed from its two constituting components: a money demand and a loan demand model which both include the relation between the respective retail bank rates and the short-term market interest rate. Eventually, the encompassing...

Persistent link: https://www.econbiz.de/10009635913

A framework for collateral risk control determination

Cossin, Didier; Huang, Zhijiang; Auron-Nerin, Daniel; … - 2003

This paper derives a general framework for collateral risk control determination in repurchase transactions or repos. The objective is to treat consistently heterogeneous collateral so that the collateral taker has a similar risk exposure whatever the collateral pledged. The framework measures...

Persistent link: https://www.econbiz.de/10009639858

Detecting and interpreting financial stress in the euro area

Blix Grimaldi, Marianna - 2010

There is a need to find better models and indicators for large disruptive events, not least in order to be more prepared and mitigate their effects. In this paper we take a step in this direction and discuss the performance of a financial stress indicator with a specific focus on the euro area....

Persistent link: https://www.econbiz.de/10009640326