Narrow search
Showing 1 - 10 of 4,934
Cover Image
The Flexible System of Global Models – FSGM
Andrle, Michal - 2015
The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis. A typical module of FSGM is a multi-region, forward-looking semi-structural global model consisting of 24 regions. Using the three core modules focused on...
Persistent link: https://www.econbiz.de/10013024429
Cover Image
The Neoliberal Legitimation Crisis of 2008
Habbu, Aditya (Adi) - 2011
This paper will discuss how the Financial Crisis of 2008 has thrown neoliberalism into a deep legitimation crisis. Over the past four decades the neoliberal ethic of Ronald Reagan and Margaret Thatcher has permeated American life both public and private. The principles of the laissez faire...
Persistent link: https://www.econbiz.de/10014179691
Cover Image
Implications of New Keynesian Theory for Research Design : Differences Induced by Cross-Country Variations in Exchange Rate Regimes
Obrimah, Oghenovo A. - 2019
Relative to free floating exchange rate regimes, I find the adoption of a hybrid exchange rate regime induces alternate research questions within the context of new Keynesian theory. Specifically, while exchange rates are measures of differences in monetary equilibria within a cross-section of...
Persistent link: https://www.econbiz.de/10012904730
Cover Image
Libor Benchmark Reform : Recipes for Success & Disaster
Burgess, Nicholas - 2020
Libor is arguably the world's most important number with more than USD 350 trillion of loans and financial contracts referencing this rate. Libor benchmark interest rates are being replaced with alternative reference rates (ARRs). There is no guarantee Libor rates will continue to be quoted...
Persistent link: https://www.econbiz.de/10012839385
Cover Image
U.S. Monetary Policy Normalization and Global Interest Rates
Caceres, Carlos - 2016
As the Federal Reserve continues to normalize its monetary policy, this paper studies the impact of U.S. interest rates on rates in other countries. We find a modest but nontrivial pass-through from U.S. to domestic short-term interest rates on average. We show that, to a large extent, this...
Persistent link: https://www.econbiz.de/10012977769
Cover Image
Global Financial Conditions and Monetary Policy Autonomy
Caceres, Carlos - 2016
Is the Mundell-Fleming trilemma alive and well? International co-movement of asset prices takes place along side synchronized business cycles, complicating the identification of financial spillovers and assessments of monetary policy autonomy. A benchmark for interest rate co-movement is to...
Persistent link: https://www.econbiz.de/10012977862
Cover Image
Globalization, Market Power, and the Natural Interest Rate
Natal, Jean-Marc - 2019
We argue that strong globalization forces have been an important determinant of globalreal interest rates over the last five decades, as they have been key drivers of changes inthe natural real interest rate-i.e. the interest rate consistent with output at its potentialand constant inflation. An...
Persistent link: https://www.econbiz.de/10012868461
Cover Image
Money Market Volatility − A Simulation Study
Kempa, Michal - 2007
This paper analyses different operational central bank policies and their impact on the behaviour of the money market interest rate. The model combines profit maximising behaviour by commercial banks with the central bank supplying the liquidity that keeps the market rate on target. It seems...
Persistent link: https://www.econbiz.de/10014223773
Cover Image
Can More Public Information Raise Uncertainty? The International Evidence on Forward Guidance
Ehrmann, Michael - 2019
signals and, as a consequence, may increase uncertainty and amplify the reaction of expectations to macroeconomic news …. However, when the increase in precision of public information is sufficiently large, uncertainty is unambiguously reduced …
Persistent link: https://www.econbiz.de/10012872234
Cover Image
Does Economic Policy Uncertainty Affect Bank Profitability?
Ozili, Peterson K; Arun, Thankom - 2022
investigates the effect of economic policy uncertainty (EPU) on bank profitability in 22 advanced countries. The measures of bank … uncertainty (EPU) negatively affects bank non-interest income. Real GDP growth rate, nonperforming loans and regulatory capital … of high EPU. The implication of the findings is that, although economic policy uncertainty has a depressive effect on …
Persistent link: https://www.econbiz.de/10014239637