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Chapter 8. How Has the Monetary Transmission Mechanism Evolved Over Time?
Boivin, Jean; Kiley, Michael T.; Mishkin, Frederic S. - In: Handbook of monetary economics : volume 3, (pp. 369-422). 2010
We discuss the evolution in macroeconomic thought on the monetary policy transmission mechanism and present related empirical evidence. The core channels of policy transmission — the neoclassical links between short-term policy interest rates, other asset prices such as long-term interest...
Persistent link: https://www.econbiz.de/10014025672
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A reappraisal of the inflation-unemployment tradeoff
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - In: European journal of political economy 21 (2005) 1, pp. 1-32
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...
Persistent link: https://www.econbiz.de/10010313770
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Asymmetric interest rate transmission in an inflation-targeting framework : the case of Colombia
Galindo Andrade, Arturo José; Steiner, Roberto - In: Latin American journal of central banking : LAJCB 3 (2022) 3, pp. 1-18
After adopting an inflation targeting framework for monetary policy at the turn of the twenty-first century, Banco de la República, the Central Bank of Colombia, started actively using the monetary policy interest rate as its key policy tool. This paper examines the interest rate pass-through...
Persistent link: https://www.econbiz.de/10013393378
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A monetary analysis of the liquidity trap with an application to the USA
Pinto, João Braz; Andrade, João de Sousa - In: Contemporary economics 13 (2019) 4, pp. 446-470
Keynesian case against the classical one. The "lowflation" environment experienced in the USA and Europe again brought the LT to … the forefront. The quantitative easing monetary policy was introduced in Japan and better applied in the USA and EMU as a … transformation of the monetary base into money supply. To prove our thesis, we study the behavior of the USA money multiplier and the …
Persistent link: https://www.econbiz.de/10012177015
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Deutsche Konjunktur im Zeichen billigen Öls und billigen Geldes
Bardt, Hubertus; Brügelmann, Ralph; Cholewa, Jan; … - In: IW-Trends - Vierteljahresschrift zur empirischen … 42 (2015) 2, pp. 3-24
Die deutsche Wirtschaft ist konsumseitig mit Schwung in das Jahr 2015 gestartet. Zahlreiche Faktoren sorgen aktuell für eine sehr gute Konsumstimmung und eine hohe Dynamik beim Privaten Verbrauch: fallende Energiepreise, extrem niedrige Zinsen, die gute Lage auf dem Arbeitsmarkt sowie einmalige...
Persistent link: https://www.econbiz.de/10011633389
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Europe, where to?
Ioan-Franc, Valeriu; Pop, Napoleon; Diamescu, Andrei Marius - In: Amfiteatru Economic 25 (2023) 63, pp. 610-624
The authors review the challenges that the Romanian economy and society had to face in the European and global geoeconomic context. Starting from the perspectives advanced by the international economic fora, the risks the European economy will have to answer through counteracting and general...
Persistent link: https://www.econbiz.de/10014463458
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„Vollgeld-Initiative“ gefährdet Geldwertstabilität
Rathke, Alexander; Sturm, Jan-Egbert; Abberger, Klaus - In: Wirtschaftsdienst 98 (2018) 5, pp. 362-364
Am 10. Juni 2018 stimmen die Schweizer über die Volksinitiative 'Für krisensicheres Geld: Geldschöpfung allein durch die Nationalbank!' (Vollgeld-Initiative) ab. Die Initiative fordert, dass den Geschäftsbanken die Schaffung von elektronischem Geld untersagt wird. Neues Geld soll als...
Persistent link: https://www.econbiz.de/10012158454
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Analysis of the economic research context after outbreak of the economic crisis of 2007-2009
Opreana, Alin; Vinerean, Simona - In: Expert journal of economics 3 (2015) 1, pp. 77-92
In this paper it, we have conducted a factor analysis which implied determining the international research directions that have characterized the period following the outbreak of the crisis in 2007 and 2008-2011. In this research, we used secondary data that were extracted from 342 articles,...
Persistent link: https://www.econbiz.de/10012062283
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"Vollgeld-Initiative" gefährdet Geldwertstabilität
Rathke, Alexander; Sturm, Jan-Egbert; Abberger, Klaus - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 98 (2018) 5, pp. 362-364
Am 10. Juni 2018 stimmen die Schweizer über die Volksinitiative „Für krisensicheres Geld: Geldschöpfung allein durch die Nationalbank!“ (Vollgeld-Initiative) ab. Die Initiative fordert, dass den Geschäftsbanken die Schaffung von elektronischem Geld untersagt wird. Neues Geld soll als...
Persistent link: https://www.econbiz.de/10011873840
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Kontraciklična monetarna politika u Hrvatskoj
Ivanov, Marijana - Ekonomski Fakultet, Sveučilište u Zagrebu
U otvorenoj ekonomiji nemoguće je istodobno postići: fiksni (stabilni) devizni tečaj, slobodu međunarodnih tijekova kapitala, aktivnu samostalnu monetarnu politiku i financijsku stabilnost. Zemlja može izabrati dvije „ponuđene“ opcije, dok joj istodobno preostale dvije nisu dostupne....
Persistent link: https://www.econbiz.de/10011007008