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monetary policy.Chapter 1 studies the choice of endogenous means of payment when holding money is risky. In steady state … interest rate. Credit may be used when the return on money is not positive. A positive money injection reduces the crime rate … households exchange money for interest-bearing government nominal bonds in the asset market. The government injects money through …
Persistent link: https://www.econbiz.de/10009466028
Tyrimo tikslas: įvertinti atlyginimų "vokelyje" praktikos paplitimo mastus Lietuvoje. Respondentams buvo pateikti klausimai, ar jie gauna neapmokestinamų pajamų bei klausta, kokią dalį pajamų procentais sudaro tokios neapmokestinamos pajamos. Socialinės demografinės charakteristikos:...
Persistent link: https://www.econbiz.de/10009478373
We introduce an element of centralization in a random matching model of money that allows for private liabilities to …
Persistent link: https://www.econbiz.de/10005515496
A model which explains, at a primitive level, the coexistence of money and credit, even though buyers prefer credit, an … which allows the study of the interaction of money and credit is introduced. This is done in a setting with ongoing … of money results in less credit availability but helps to overcome the trading frictions so that the volume of trade …
Persistent link: https://www.econbiz.de/10005523109
This paper is a study of money in overlapping generations models with cash-in-advance constraints a la Champ and … propose a general formulation. We show that neutrality of money prevails when the ratios of lum-sum monetary transfers and … public expenditures to the money supply do not depend on the money growth rate. …
Persistent link: https://www.econbiz.de/10005478339
Persistent link: https://www.econbiz.de/10005478609
Seignorage is the capital gain generated by the creation of reserve money. The literature on seignorage shows that … access to large amounts of real resources when they create reserve money. Results obtained in this paper suggest there is no … anomaly. Highly indebted developing countries resorting to money creation to finance their activities do not generate large …
Persistent link: https://www.econbiz.de/10005486346
This paper analyses the business cycle properties of 183 time series relevant to the Italian economy, including real, monetary and international variables. We propose new monthly coincident and leading composite indicators for the Italian business cycle; the leading indicator anticipates the...
Persistent link: https://www.econbiz.de/10005486716
There is a general consensus that monetary stability in Economic and Monetary Union (EMU) requires sustainable public finances of the member states. In order to maintain a high degree of sustainability in Stage III of EMU, attention might shift away from the numerical criteria regarding overall...
Persistent link: https://www.econbiz.de/10005486884
A stable and predictable demand for money function is a pre-requisite for the use of targets for monetary aggregates as … themselves in the estimation of such money functions, empirical interest has been renewed over the last decade driven by the … belief that a stable long-run money demand relationship continues to exist. This revival of activity in this area was aided …
Persistent link: https://www.econbiz.de/10005486890