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von J. Wolters analysiert die Renditestruktur am deutschen Kapitalmarkt. Gemäß der Erwartungshypothese der Zinsstruktur … Spreads festgestellt werden. Dies bedeutet, daß die Zinsstruktur nicht nur von einem, sondern von zwei gemeinsamen Faktoren … Zinsparität sowie der Erwartungshypothese der Zinsstruktur und der Notenbankpolitik. In einem Modell mit rationalen Erwartungen …
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This chapter represents a preliminary attempt to introduce monetary phenomena in a general equilibrium model of an open economy. In the formulation, the government sector issues a combination of bonds and money to finance acquisition of public goods. The government may run a budget deficit,...
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Zinsstruktur in seiner Wirkungsweise erklärt (Ziffer 2.4). Im Hauptteil der Analyse werden verschiedene Erklärungsansätze einer …
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The common narrative about Jean-Baptiste Say's treatment of money holdings is that he denied the possibility of hoarding. I show that this interpretation of Say's thinking is erroneous. Drawing upon the various editions of Traité and Cours and other lesser-known texts, I provide substantial...
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Treasury bills and other near-money assets provide owners with liquidity service benefits that are reflected in prices in the form of a liquidity premium. I relate time variation in this liquidity premium to changes in the opportunity cost of money: The liquidity service benefits of near-money...
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