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Effect of Monetary Policies on the Relationship between Advertising and Mutual Fund Flows
Wu, Ming-Hung - 2017
between advertising and subsequent net cash flows for Taiwan's mutual fund industry. Based on a comprehensive mutual fund … dataset and allowing for a precise estimation of fund inflows and outflows, we find that there is positive advertising … advertising works well during relatively low interest rate environments, which are generally interpreted as exhibiting low cost of …
Persistent link: https://www.econbiz.de/10012956355
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The effect of monetary policies on the relationship between advertising and mutual fund flows
Wu, Ming-Hung; Tsai, Wei-Che; Chen, Miao-Ling - In: Asia-Pacific journal of financial studies 45 (2016) 5, pp. 673-704
Persistent link: https://www.econbiz.de/10011630771
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Price bargaining, the persistence puzzle, and monetary policy
Wesselbaum, Dennis - 2010
In the recent New Keynesian literature a standard assumption is that the price for which an intermediate good is sold to the final good firm is equal to the marginal costs of the intermediate good firm. However, there is empirical evidence that this need not to hold. This paper introduces price...
Persistent link: https://www.econbiz.de/10003971894
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Banking behaviour and political business cycle in Africa : the role of independent regulatory policies of the central bank
Ofori-Sasu, Daniel; Agbloyor, Elikplimi Komla; Nsafoah, … - 2024
This study examines the effect of regulatory independence of the central bank in shaping the impact of electoral cycles on bank lending behaviour in Africa. It employs the dynamic system Generalized Method of Moments (SGMM) Two-Step estimator for a panel dataset of 54 African countries over the...
Persistent link: https://www.econbiz.de/10014514254
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Capacity Choice, Monetary Trade, and the Cost of Inflation
Baughman, Garth - 2020
Firms often make production decisions before meeting a buyer. We incorporate this often-overlooked fact into an otherwise standard monetary search model and show that it has important implications for the set of equilibria, efficiency, and the cost of inflation. Our model features a strategic...
Persistent link: https://www.econbiz.de/10012834047
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Loss Averse Depositors and Monetary Policy Around Zero
Stettler, Christian - 2020
Recent experience from Europe and Japan shows that commercial banks generally pass negative short-term policy rates on to wholesale depositors, such as insurances and pension funds. Yet, they refrain from charging negative rates to ordinary retail customers. This paper asks whether the existing...
Persistent link: https://www.econbiz.de/10012837225
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Coordinated Effects in Monetary Policy
Schinkel, Maarten Pieter - 2018
Monetary policy affects the cost of capital, and thereby conditions for collusion in loan markets - which in turn influence the transmission of policy rates. Stronger countercyclical interest rate policy responses increase the scope for bank cartels on loan markets by decreasing the critical...
Persistent link: https://www.econbiz.de/10012918037
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Duopolistic Competition and Monetary Policy
Ueda, Kozo - 2021
A standard macroeconomic model based on monopolistic competition (Dixit-Stiglitz) does not account for the strategic behaviors of oligopolistic firms. In this study, we construct a tractable Hotelling duopoly model with price stickiness to consider the implications for monetary policy. The key...
Persistent link: https://www.econbiz.de/10013241990
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Public and Private Information in Monetary Policy Models
Amato, Jeffery D.; Shin, Hyun Song - 2013
This paper examines the impact of public information in an economy where agents also have diverse private information. Since disclosures by central banks are an important source of public information, we are able to assess how the words of central bankers shape expectations, in addition to their...
Persistent link: https://www.econbiz.de/10014062631
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Market Concentration, Macroeconomic Uncertainty and Monetary Policy
Tena, Juan de Dios; Giovannoni, Francesco - 2005
using different structural vector autoregressive VAR approaches. The results are largely consistent with the proposed theory …
Persistent link: https://www.econbiz.de/10014062674