Showing 1 - 10 of 556
analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10011708307
Using a segmented market model that includes state-dependent asset market decisions along with access to credit, we analyze the impact that transactions credit has on interest rates and prices. We find that the availability of credit substantially changes the dynamics in the model, allowing...
Persistent link: https://www.econbiz.de/10013088173
The monetary framework developed by Karl Brunner and Allan Meltzer emphasized the interaction between the supply and demand for money and the supply and demand for credit. In a general equilibrium setting, the money market and the credit market jointly determine the short term interest rate and...
Persistent link: https://www.econbiz.de/10012853154
Major central banks have pointed out that basic economic models describe the monetary system inaccurately. In this context, the current paper presents a model of interest rate determination based on a sound description of the monetary system. Its novelty is providing an alternative credit supply...
Persistent link: https://www.econbiz.de/10012856124
This paper relates Keynes's discussions of money, the state theory of money, financial markets, investors' expectations …, uncertainty, and liquidity preference to the dynamics of government bond yields for countries with monetary sovereignty. Keynes …
Persistent link: https://www.econbiz.de/10012317613
analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from … trading at false prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10010291902
Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and beginning of the 20th centuries, has played an important role in modern monetary macroeconomics, especially after the development of inflation targeting policy in the 1990s. More...
Persistent link: https://www.econbiz.de/10012968402
analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10013130277
analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10008655700
This study seeks to empirically explore the impact of key monetary policy variables on the economic growth in the CEMAC zone from the period of 1981 to 2015. Carried out using the Ex post facto research design based on the principal components selection approach, the study interacts money...
Persistent link: https://www.econbiz.de/10012062559