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Money and Debt Demand : A Cyclic Model
Zeng, Caisheng - 2021
The author attempts to reconstruct the money demand theory in the context of “debt demand,” by discussing the money demand of households and the debt demand of enterprises separately. This paper outputs the money demand function of the household sector and the debt demand function of the...
Persistent link: https://www.econbiz.de/10013242839
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Economic Recovery and Inflation
Dabrowski, Marek - 2018
In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed—in particular, the new financial regulations (which led to a deep decline in the money multiplier)....
Persistent link: https://www.econbiz.de/10012920665
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Job ladder and business cycles
Alves, Felipe - 2022 - Last updated: March 21, 2022
inflation dynamics that resemble the missing disinflation of that period. …
Persistent link: https://www.econbiz.de/10013169236
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Monetary aggregates to improve early output gap estimates in the euro area -- an empirical assessment
Boysen-Hogrefe, Jens - 2014
Output gap estimates at the current edge are subject to severe revisions. This study analyzes whether monetary aggregates can be used to improve the reliability of early output gap estimates as proposed by several theoretical models. A real-time experiment shows that real M1 can improve output...
Persistent link: https://www.econbiz.de/10010248220
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On Understanding the Cyclical Behavior of the Price Level and Inflation
Brock, William A. - 2014
In this paper, we examine the relationship between the price level and output and the inflation rate and output at … output and between the inflation rate and output. We apply linear filters to the cyclical components, create a time series …
Persistent link: https://www.econbiz.de/10013054635
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Stable Price Level and Changing Prices
Suvanto, Antti; Hukkinen, Juhana - 2005
. This was a period of very low inflation. The rate of growth in the aggregate price level was occasionally very close to … inflation. The declining prices cannot, however, be explained by lack of demand or any generalized deflationary tendencies … develops a new method for looking at the composition of inflation and illustrating how relative price dynamics interact with …
Persistent link: https://www.econbiz.de/10014062757
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A behavioral macroeconomic model with endogenous boom-bust cycles and leverage dynamcis
Scheffknecht, Lukas; Geiger, Felix - 2011
We merge a financial market model with leverage-constrained, heterogeneous agents with a reduced-form version of the New-Keynesian standard model. Agents in both submodels are assumed to be boundedly rational. The financial market model produces endogenously arising boom-bust cycles. It is also...
Persistent link: https://www.econbiz.de/10009384917
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A Theory of Credit Cycles under Pandemic
Dong, Feng; Wang, Pengfei; Xu, Zhiwei - 2021
We develop a tractable dynamic theory linking endogenous credit cycles with conditions in the labor market, in which a pandemic may cripple credit markets and even cause a credit collapse by freezing the labor supply. We execute the idea in a general equilibrium framework with banks and...
Persistent link: https://www.econbiz.de/10013220882
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Money demand and macroeconomic uncertainty
Lemke, Wolfgang; Greiber, Claus - 2005
In this study we construct a measure of macroeconomic uncertainty from several observable economic indicators for the euro area. Indicator variables are based on financial market data, such as medium-term returns, loss and volatility measures but also come from surveys that capture business and...
Persistent link: https://www.econbiz.de/10010295771
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Economic uncertainty and money demand stability in Turkey
Özdemir, K. Azim; Saygili, Mesut - 2010
The monetary authorities of emerging market economies tend to emphasize the studies that find instabilities in the money demand functions and use them as the main pretext for formulating monetary policy strategies in which monetary aggregates play no prominent role. In this study, however, we...
Persistent link: https://www.econbiz.de/10009157794