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Periodic Re-Coinage as a Monetary Tax : The Rise and Fall of the Bracteate Economy
Svensson, Roger - 2020
was less restrictive and had lower administrative costs for the coin issuer than re-coinage. Besides low monetization, the … debasements than routine calendar driven re-coinage, due to the high uncertainty …
Persistent link: https://www.econbiz.de/10012856608
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Periodic Re-Coinage as a Monetary Tax : Conditions for the Rise and Fall of the Bracteate Economy
Svensson, Roger - 2020
monitored and enforced. The principal example of frequently renewed coins is uni-faced bracteates, which were often subject to … annual or even biannual re-coinages. Although bracteates were not the cause of periodic re-coinage, their features … this monetary system with the end of bracteates' role as the principal coin in the 14th century …
Persistent link: https://www.econbiz.de/10012830522
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The natural rate of interest in emerging Asia : long-term trends and the impact of crises
Tanaka, Kensuke; Ibrahim, Prasiwi; Brekelmans, Sybrand - 2021
This paper studies the evolution of the natural interest rate in five Southeast Asian countries and considers the effect of economic shocks on the natural interest rate in these countries. The natural interest rate is the interest rate that would prevail in an economy in equilibrium and in the...
Persistent link: https://www.econbiz.de/10012545924
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The role of fiscal policy : a survey of recent empirical findings
Le, Vo Phuong Mai; Meenagh, David; Minford, Patrick - 2023
DSGE models based on New Keynesian principles, which have been extended to allow for banking, the zero lower bound on interest rates (ZLB), and varying price duration, can account well for recent macroeconomic behavior across a variety of economies. These models Önd that active Öscal policy...
Persistent link: https://www.econbiz.de/10014433366
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Covid-19 : has the time come for mainstream macroeconomics to rehabilitate money printing?
Arquié, Axelle; Héricourt, Jérôme; Tripier, Fabien - 2020
appropriate funding. Long rejected by mainstream macroeconomics due to its possible inflationary consequences, monetization is … government ever reimbursing the central bank -, monetization appears as an attractive solution in a context where the burden of … Covid-19 shock. This policy brief offers some theoretical insights into this debate opposing monetization and issuance of …
Persistent link: https://www.econbiz.de/10012233283
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Inflation und Schuldenabbau
Straubhaar, Thomas; Vöpel, Henning; Illing, Gerhard; … - In: Wirtschaftsdienst 92 (2012) 9, pp. 583-598
Die Rettungsaktionen der EZB stehen in der Kritik: Es wird befürchtet, dass sie zu steigenden Inflationsraten führen könnten. Die Autoren des Zeitgesprächs sehen diese Gefahr nicht. Vielmehr könne ein gemäßigter Anstieg der Inflation sogar dazu beitragen, die Staatsschulden schneller...
Persistent link: https://www.econbiz.de/10010471322
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Effect of offical dollarization on macroeconomic performance and money-price relationship in Ecador
Tas, Bedri Kamil Onur; Togay, Selahattin - 2009
This paper investigates effects of official dollarization on the macroeconomic performance of Ecuador using a time series perspective. More specifically, we investigate how dollarization effects inflation, GDP, inflation uncertainty and money-price relationship in Ecuador. There are four main...
Persistent link: https://www.econbiz.de/10003866780
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Inflation und Schuldenabbau
In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 92 (2012) 9, pp. 583-598
Die Rettungsaktionen der EZB stehen in der Kritik: Es wird befürchtet, dass sie zu steigenden Inflationsraten führen könnten. Die Autoren des Zeitgesprächs sehen diese Gefahr nicht. Vielmehr könne ein gemäßigter Anstieg der Inflation sogar dazu beitragen, die Staatsschulden schneller...
Persistent link: https://www.econbiz.de/10009621756
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Fiscal policy effects in the European Union
Thams, Andreas (contributor) - 2006
This paper analyzes empirically the impact of fiscal policy on the price level for the cases of Germany and Spain. We investigate whether the fiscal theory of the price level (FTPL) is able to deliver a reasonable explanation for the different performances of the price level in these two...
Persistent link: https://www.econbiz.de/10003324320
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The Impact of Oil Price Shocks on the Consumer Price Components in Turkey : Evidence from TVP-VAR Models
Catik, Abdurrahman Nazif - 2018
This article aims to assess the extent of oil price pass-through into disaggregated consumer prices in Turkey in a time-varying framework. For this purpose, pass-through coefficients are computed based on the TVP-VAR model with stochastic volatility by Primiceri (2005). The results suggest that...
Persistent link: https://www.econbiz.de/10012931939