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It is considered inapt for central banks to adjust reserve money (quantity of money) and interest rate (price of money) at the same time. Thus, necessitates the need for a choice instrument. Enough evidence abounds in microeconomic theory on the undesirability of manipulating both price and...
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The interest rate is generally considered as a monetary policy tool and, at the same time, via Tobin's q, as an important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic...
Persistent link: https://www.econbiz.de/10011994756
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank’s effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012063971
The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under the scenarios of both certainty and uncertainty. We...
Persistent link: https://www.econbiz.de/10012099522
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012099559
Persistent link: https://www.econbiz.de/10012126405
Der Zins ist ein wichtiges geldpolitisches Instrument zur Steuerung von Investitionen, um Preisstabilität zu … gewährleisten. Im derzeitigen Niedrigzinsumfeld rücken Implikationen der genauen Gestalt und der Größenordnung des Zins … untersucht. In diesem nicht-linearen Modell kommt es zu starken Reaktionen der Investitionsaktivität, sobald der Zins eine …
Persistent link: https://www.econbiz.de/10012034406