Narrow search
Showing 1 - 10 of 3,917
Cover Image
Bond Markets and Monetary Policy
Buraschi, Andrea - 2015
Since the early 1990's, and until the 2008 financial crisis, the main policy tool of the FOMC has been a nominal interest rate target. This paper surveys an extensive literature that studies the link between monetary policy and the dynamics of bond yields. This literature uses ‘high-frequency'...
Persistent link: https://www.econbiz.de/10013020623
Cover Image
Money in finance
Wray, L. Randall - 2011
This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private...
Persistent link: https://www.econbiz.de/10008906555
Cover Image
Money in Finance
Wray, L. Randall - 2011
This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private...
Persistent link: https://www.econbiz.de/10013128521
Cover Image
Ten Propositions About Liquidity Crises
Borio, Claudio E. V. - 2010
What are liquidity crises? And what can be done to address them? This short article brings together some personal reflections on this issue, largely based on previous work. In the process, it questions a number of commonly held beliefs that have become part of the conventional wisdom. The...
Persistent link: https://www.econbiz.de/10013147647
Cover Image
Ten Propositions About Liquidity Crises
Borio, Claudio E. V. - 2013
What are liquidity crises? And what can be done to address them? This short paper brings together some personal reflections on this issue, largely based on previous work. In the process, it questions a number of commonly held beliefs that have become part of the conventional wisdom. The paper is...
Persistent link: https://www.econbiz.de/10013095362
Cover Image
Can Forecast Errors Predict Financial Crises? Exploring the Properties of a New Multivariate Credit Gap
Afanasyeva, Elena - 2020
Yes, they can. I propose a new method to detect credit booms and busts from multivariate systems -- monetary Bayesian … vector autoregressions. When observed credit is systematically higher than credit forecasts justified by real economic … activity variables, a positive credit gap emerges. The methodology is tested for 31 advanced and emerging market economies. The …
Persistent link: https://www.econbiz.de/10014352292
Cover Image
A microfounded model of money demand under uncertainty, and some empirical evidence
Größl, Ingrid; Tarassow, Artur - 2018
In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account where linearization procedures in our...
Persistent link: https://www.econbiz.de/10011790638
Cover Image
Money and the Financial System in Ghana
Abotsi, Anselm Komla - 2013
Broadly speaking, a country's financial system includes all institutions involved in moving savings from households and firms (whose income exceeds their expenditures) to other households and firms who like to spend more than their income and liquid assets. There are basically five parts of the...
Persistent link: https://www.econbiz.de/10013076465
Cover Image
Financial Factors and Monetary Policy : Determinacy and Learnability of Equilibrium
Kitney, Paul - 2016
This paper contributes to the debate whether central banks should respond to asset prices, credit spreads and other … rules responding to lagged asset prices and credit volume have less desirable determinacy and learnability characteristics … than responding to current asset prices and credit spreads. This conclusion dovetails with recent research such as …
Persistent link: https://www.econbiz.de/10012987763
Cover Image
Financial Market Developments and Their Implications for Monetary Policy
Settlements, Bank for International - 2013
This volume features eight papers written for the conference quot;Financial market developments and their implications for monetary policyquot;. The event was jointly organised by the BIS Representative Office for Asia and the Pacific and Bank Negara Malaysia in Kuala Lumpur on 13 August 2007....
Persistent link: https://www.econbiz.de/10012753509