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An Institutional Analysis of China’s Reform of their Monetary Policy Framework
Zengping, He - 2019
This paper traces the history of China's reform of its monetary policy framework and analyzes its success and problems …. In the context of financial marketization and the failure of the quantity-targeting framework, the People's Bank of China … China's Treasury Single Account system. The missing role of the Treasury in monetary policy operations increases the …
Persistent link: https://www.econbiz.de/10012888989
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Banking and Development : Observations in Reforms’ Era
Prasanna Kumar, B. - 2011
In the context of wide regional disparities emerging in the process of development, the banks have an additional responsibility in India. That responsibility is to enter the under developed regions and to mobilize and channelize resources into local economic activities such that local...
Persistent link: https://www.econbiz.de/10013131082
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The Interplay of Economic Reforms and Monetary Policy : The Case of the Euro Area
Drudi, Francesco - 2012
The world has been struck by a mutating systemic financial crisis that is unprecedented in terms of financial losses and fiscal costs, geographic reach, and speed and synchronisation. The crisis from August 2007 to date can be divided into three main phases: the financial turmoil from August...
Persistent link: https://www.econbiz.de/10013101191
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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
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Economic Changes, Inflation Dynamics and Policy Responses : The Malaysian Experience
Singh, Sukudhew - 2016
This note examines Malaysia's inflation dynamics as influenced by changes in the policy environment and economic structure. In particular, it highlights the growing role of domestic demand, increased integration with the global economy, and the policy reforms that are shifting the economy...
Persistent link: https://www.econbiz.de/10012979055
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Can Structural Reforms Help Europe?
Eggertsson, Gauti B. - 2015
Structural reforms that increase competition in product and labor markets are often indicated as the main policy option available for peripheral Europe to regain competitiveness and boost output. We show that, in a crisis that pushes the nominal interest rate to its lower bound, these reforms do...
Persistent link: https://www.econbiz.de/10013034617
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Emu Enlargement, Policy Uncertainty and Economic Reforms
Hefeker, Carsten - 2021
The paper analyzes the relation between monetary uncertainty and government incentives to implement economic reforms that reduce structural distortions and make economies more flexible. It is shown that uncertainty about the central bank's reaction function leads to more reforms. I relate this...
Persistent link: https://www.econbiz.de/10013317517
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Salvaging the EU : two-speed or dual-track reform?
Rosefielde, Steven - In: Contemporary economics 13 (2019) 2, pp. 137-146
-speed supranational approach that is destined to fail. A dual-track supranational solution analogous to China’s “one country, two systems …
Persistent link: https://www.econbiz.de/10012176397
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The single monetary policy and domestic macro-fundamentals: Evidence from Spain
Arghyrou, Michael G.; Gadea, Maria Dolores - 2008
We model pre-euro Spanish monetary policy and use our findings to assess the compatibility of the interest rates set by the ECB since 1999 with Spanish macrofundamentals. We find that in the 1990s Spain implemented successfully a monetary strategy tailored to its own domestic fundamentals; and...
Persistent link: https://www.econbiz.de/10010288789
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The single monetary policy and domestic macro-fundamentals : evidence from Spain
Arghyrou, Michael Georgiou (contributor);  … - 2008
We model pre-euro Spanish monetary policy and use our findings to assess the compatibility of the interest rates set by the ECB since 1999 with Spanish macrofundamentals. We find that in the 1990s Spain implemented successfully a monetary strategy tailored to its own domestic fundamentals; and...
Persistent link: https://www.econbiz.de/10003766104