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Economic policy in India : for economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
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Japan's liquidity trap
Akram, Tanweer - 2016
Japan has experienced stagnation, deflation, and low interest rates for decades. It is caught in a liquidity trap. This paper examines Japan’s liquidity trap in light of the structure and performance of the country’s economy since the onset of stagnation. It also analyzes the country’s...
Persistent link: https://www.econbiz.de/10011453035
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The Japanese banks in the lasting low-, zero- and negative-interest rate environment
Schnabl, Gunther; Murai, Taiki - 2020
The bursting of the Japanese bubble economy in the early 1990s put the stage for a lasting lowzero-, and negative-interest rate environment, which fundamentally changed the business environment for the Japanese commercial banks. On the income side, with interest margins becoming increasingly...
Persistent link: https://www.econbiz.de/10012391096
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Monetary policy disconnect
Ballensiefen, Benedikt; Ranaldo, Angelo; Winterberg, Hannah - 2020 - This version: December 11, 2020
Although designed to support monetary policy, two crucial aspects of the central bank framework can disconnect the monetary policy transmission: banks' access to central bank deposits and Quantitative Easing (QE). We show how both hinder the monetary policy transmission through the main...
Persistent link: https://www.econbiz.de/10012387237
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Chapter 3. Money and Inflation : Some Critical Issues
McCallum, Bennett T.; Nelson, Edward - In: Handbook of monetary economics : volume 3, (pp. 97-153). 2010
We consider what, if any, relationship there is between monetary aggregates and inflation, and whether there is any substantial reason for modifying the current mainstream mode of policy analysis, which frequently does not consider monetary aggregates at all. We begin by considering the body of...
Persistent link: https://www.econbiz.de/10014025677
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The VARying effect of foreign shocks in Central and Eastern Europe
Jiménez-Rodriguez, Rebeca; Morales-Zumaquero, Amalia; … - 2010
shocks - on key macroeconomic variables in ten Central and Eastern European (CEE) countries by using near-VAR models and …This paper investigates the impact of international shocks - interest rate, commodity price and industrial production …. Moreover, our results suggest that the way how countries react to world commodity price shocks is related to the underlying …
Persistent link: https://www.econbiz.de/10010273871
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The neutral rate of interest in Canada
Mendes, Rhys R. - 2014
of all cyclical shocks have dissipated. This is a medium-to longer-run concept of the neutral rate. Under this definition …
Persistent link: https://www.econbiz.de/10010406295
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Interest Rate Pass-Through and the Efficiency of Monetary Policy in Nigeria : 2002-2010
Sanusi, Aliyu Rafindadi - 2011
This paper estimates magnitude and speed of the interest rate pass-through for Nigeria using a monthly data for the period 2002:M1-2010:M04. It uses the Impulse Response Functions from a Structural Vector Auto-Regression (SVAR) model of the interest rate transmission to derive the dynamic...
Persistent link: https://www.econbiz.de/10013128207
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Is Monetary Policy More Efficient in the Post-Banking Sector Consolidation Period? Evidence from the Interest Rate Pass-Through in Nigeria
Sanusi, Aliyu Rafindadi - 2012
This paper estimates magnitude and speed of the interest rate pass-through for Nigeria using a monthly data for the period 2002:M1-2010:M04. It uses the Impulse Response Functions from a Structural Vector Auto-Regression (SVAR) model of the interest rate transmission to derive the dynamic...
Persistent link: https://www.econbiz.de/10013115120
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Unconventional Monetary Policies : An Appraisal
Borio, Claudio E. V. - 2009
The recent global financial crisis has led central banks to rely heavily on "unconventional" monetary policies. This alternative approach to policy has generated much discussion and a heated and at times confusing debate. The debate has been complicated by the use of different definitions and...
Persistent link: https://www.econbiz.de/10013153793