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Is Now the Time for Modern Monetary Theory or Permanent Monetary Finance?
Schlotmann, Olaf - In: Credit and Capital Markets – Kredit und Kapital 54 (2021) 1, pp. 17-36
In response to the COVID-19 pandemic, G7 central banks have launched asset purchase programs in anticipation of an increase in government bond offerings to finance ballooning fiscal deficits. As the volume of government bonds owned by private investors is not expected to rise during the current...
Persistent link: https://www.econbiz.de/10014522624
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Constructing divisia monetary aggregates for Singapore
Barnett, William A.; Nguyen, Van H. - In: Journal of Risk and Financial Management 14 (2021) 8, pp. 1-15
Since Barnett derived the user cost price of money, the economic theory of monetary services aggregation has been developed and extended into a field of its own with solid foundations in microeconomic theory. Divisia monetary aggregates have repeatedly been shown to be strictly preferable to...
Persistent link: https://www.econbiz.de/10013201054
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Keynes's Europeanism as Shown in "The Economic Consequences of the Peace"
Popescu, Diana; Tache, Ileana - In: CES Working Papers 4 (2012) 2, pp. 221-230
men and great ideas standing with. J.M.Keynes proves in his book”The Economic Consequences of the Peace” that there is no …
Persistent link: https://www.econbiz.de/10012017000
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The General Theory and monetary policy: Investment versus inflation
Tily, Geoff - In: Intervention. European Journal of Economics and … 06 (2009) 1, pp. 97-118
Keynes's theory of investment and the economic cycle is set out. Against this theory it is argued that the current … proved, deeply dangerous. Keynes advocated policies aimed at setting a low long-term rate of interest. Financial … liberalisation has led to the dear rates that Keynes understood as the cause of the Great Depression. The discussion also examines …
Persistent link: https://www.econbiz.de/10014363060
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Gibt es aus portfoliotheoretischer Sicht eine Liquiditätsfalle?
Läufer, Nikolaus K. A. - In: Kredit und Kapital 39 (2006) 3, pp. 367-395
In der Makroökonomik werden Liquiditätsfallen ohne Mikrofundierung als existent angenommen, und die Japan-Krise hat Liquiditätsfallen wieder zum Diskussionsthema gemacht. Deshalb wird die Frage der Existenz von Liquiditätsfallen hier portfoliotheoretisch untersucht im Rahmen eines...
Persistent link: https://www.econbiz.de/10014524056
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On the monetary measures of global liquidity
Hashmi, Israr Ahmad Shah; Bhatti, Arshad Ali - In: Financial Innovation 5 (2019) 1, pp. 1-23
This study constructs and examines the dynamics of theoretical and atheoretical measures of global liquidity, using monthly data on the components of broad money over the period 2001 M12 - 2017 M12 for 39 high income countries. We group the countries into five regional blocks as categorized by...
Persistent link: https://www.econbiz.de/10012602814
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Equilibrium interest rate and financial transactions in post-Keynesian models. Pointing out some overlooked features
Asensio, Angel - In: Intervention. European Journal of Economics and … 08 (2011) 2, pp. 389-404
The paper argues that beyond the deviations of the long-term interest rate the monetary authority may cause, it is the rate determined by the market conventional expectations that prevails eventually. Lasting influence requires the authority to be capable of changing the market conventional...
Persistent link: https://www.econbiz.de/10014363132
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The History of Money in Montenegro
Fabris, Nikola - In: Journal of Central Banking Theory and Practice 4 (2015) 1, pp. 5-18
The paper depicts the history of using money in Montenegro covering the period before the Christ until nowadays. Montenegro mostly used foreign currencies throughout its long history, these being Roman, Austro-Hungarian, Turkish, Venetian, and even the Napoleon (French gold coin) money. The...
Persistent link: https://www.econbiz.de/10012217802
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Ratchet effects in currency substitution: An application to Nigeria
Bawa, Sani; Omotosho, Babatunde S.; Doguwa, Sani I. - In: CBN Journal of Applied Statistics 06 (2015) 2, pp. 19-37
This study examines the persistence of currency substitution in Nigeria by applying the Bounds testing approach to cointegration and including a ratchet variable in the estimated Autoregressive Distributed Lag (ARDL) model. Empirical results show that factors such as exchange rate risks,...
Persistent link: https://www.econbiz.de/10011482616
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On the bottom-up foundations of the banking-macro nexus
Wäckerle, Manuel - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-40, pp. 1-45
The complexity of credit-money is conceived as the central issue in the banking-macro nexus, which the authors consider as a structural as well as process component of the evolving economy. This nexus is significant for the stability as well as the fragility of the economic system, because it...
Persistent link: https://www.econbiz.de/10010326678