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The Reserve Equation and the Analytics of Pakistan’s Monetary Policy
Hassan, Rubina - In: Lahore Journal of Economics 16 (2011) 1, pp. 111-142
statistics, which impart important information regarding the design and conduct of monetary policy at the State Bank of Pakistan … data published by the SBP for the period 1985-2009. Results show that Pakistan’s monetary policy revolves around managing …
Persistent link: https://www.econbiz.de/10010556349
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Imperfect Competition, Monetary Policy and Welfare in a Currency Area
Lombardo, Giovanni - Deutsche Bundesbank - 2002
auf die Wohlfahrt und die optimale Geldpolitik. Betrachtet werden zwei Möglichkeiten, wie die Wettbewerbsintensität am … die Geldpolitik effektiver sein, wenn die Länder größere Asymmetrien aufweisen. Diese Ergebnisse legen es nahe, dass die … intensiver ist. Die optimale Geldpolitik der Zentralbank der Währungsunion wird ermittelt und mit einer einfachen Taylor …
Persistent link: https://www.econbiz.de/10005083139
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Economic Stability and Interest-Rate Controls in an Open-Economy Model with Productive Money
Fujisaki, Seiya - In: Economics Bulletin 32 (2012) 4, pp. 3053-3060
We analyze the relation between interest-rate controls and equilibrium determinacy in a two-country model in which money is employed as a factor of production. Given this specification, holding cash generates an opportunity cost. Therefore, equilibrium can be indeterminate even if both countries...
Persistent link: https://www.econbiz.de/10011278868
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Interest Rate Control Rules and Macroeconomic Stability in a Heterogeneous Two-Country Model
Fujisaki, Seiya - Volkswirtschaftliche Fakultät, … - 2012
We analyze relations between several types of interest rate control rules and equilibrium determinacy using a two-country model featuring preference and production parameters that may differ between countries, in which two kinds of goods are tradable. Such heterogeneity may violate the Taylor...
Persistent link: https://www.econbiz.de/10009652036
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Taylor rules and equilibrium determinacy in a two-country model with non-traded goods
Fujisaki, Seiya - In: Economic Modelling 35 (2013) C, pp. 597-603
We analyze a relation between interest rate controls and equilibrium determinacy using a two-country model featuring traded and non-traded goods. In addition, parameters of preference and production may differ between the two countries. We find that macroeconomic stability strongly depends on...
Persistent link: https://www.econbiz.de/10010719421
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Taylor rules and equilibrium determinacy in a two-country model with non-traded goods
Fujisaki, Seiya - Volkswirtschaftliche Fakultät, … - 2012
We analyze a relation between interest rate controls and equilibrium determinacy using a two-country model featuring traded and non-traded goods. In addition, parameters of preference and production may differ between the two countries. We find that macroeconomic stability strongly depends on...
Persistent link: https://www.econbiz.de/10011109971
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The Impact of the Unemployment Benefit System on International Spillover Effects
Beissinger, Thomas; Büsse, Oliver - Wirtschaftswissenschaftliche Fakultät, Universität … - 2002
Based on a two-country model it is scrutinized how the structure of the unemployment benefit system affects the consequences of idiosyncratic labor market shocks on real wages and unemployment in other countries. International spillover effects are caused by changes in world real income. The...
Persistent link: https://www.econbiz.de/10005063034
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Taylor-Regel und Subprime-Krise - Eine empirische Analyse der US-amerikanischen Geldpolitik
Erler, Alexander; Krizanac, Damir - Volkswirtschaftliche Fakultät, … - 2009
This paper examines the impact of the U.S. monetary policy on the Subprime mortgage crisis using a modified taylor rule. The main finding is that during the pre-crisis period the short term rate deviated significantly from the estimated taylor rate. This deviation may have been a cause of the...
Persistent link: https://www.econbiz.de/10008458491
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Geldpolitik und vorausschauende Taylor-Regeln ; Theorie und Empirie am Beispiel der Deutschen Bundesbank
Kamps, Christophe; Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 2002
In diesem Beitrag wird aufgezeigt, dass sich die Geldpolitik der Deutschen Bundesbank im Zeitraum 1991 bis 1998 gut mit …
Persistent link: https://www.econbiz.de/10005818912
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An Empirical Analysis of the Austrian Business Cycle Theory
Luther, William; Cohen, Mark - In: Atlantic Economic Journal 42 (2014) 2, pp. 153-169
The Austrian economists Ludwig von Mises and Friedrich A. Hayek developed a unique theory of the business cycle. In their view, an unsustainable boom ensues when the rate of interest prevailing in the market falls below the natural rate. The boom is characterized not only by an increase in...
Persistent link: https://www.econbiz.de/10010989100