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Towards money market in general equilibrium framework
In: International Journal of Financial Studies 10 (2022) 1, pp. 1-18
This paper aims to integrate the money market into the structure of the economy. The microfoundation is the starting point to define the money market and the general equilibrium mechanism of the economy. On this basis, this research seeks a linking mechanism of the money market with economic...
Persistent link: https://www.econbiz.de/10013200410
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Re-examining money market and economic growth nexus in Nigeria: A SVAR model approach
Adesina-Uthman, Ganiyat Adejoke; Olatunde, Adenuga Adeniyi - In: West African Journal of Monetary and Economic Integration 20 (2020) 1a, pp. 44-65
Money market and economic growth nexus has been debated in the literature. This paper therefore re-examines money market impact on economic growth in Nigeria using quarterly data from 2000Q1 to 2018Q4. It utilised the structural vector autoregressive (SVAR) model framework to generate the...
Persistent link: https://www.econbiz.de/10013362929
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Gut geschlagen: Geldpolitik der EZB in der Finanzmarktkrise
Bley, Andreas - In: Vierteljahrshefte zur Wirtschaftsforschung 78 (2009) 1, pp. 66-82
Die EZB hat während der Finanzkrise insgesamt die richtigen Entscheidungen getroffen. Das moderne und flexible geldpolitische Instrumentarium musste im Verlauf der Krise nur wenig angepasst werden, um die Banken ausreichend mit Liquidität zu versorgen. Die Zinspolitik stand bis zum Sommer 2008...
Persistent link: https://www.econbiz.de/10010377870
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The Czech crown money market as the source for pricing customer cash products
Staniek, Dušan - In: European Financial and Accounting Journal 11 (2016) 3, pp. 139-154
Persistent link: https://www.econbiz.de/10011937459
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Risk premia and the social cost of carbon: A review
Kousky, Carolyn; Kopp, Robert E.; Cooke, Roger M. - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-21, pp. 1-24
Abstract Reducing greenhouse gas emissions not only lowers expected damages from climate change but also reduces the risk of catastrophic impacts. However, estimates of the social cost of carbon, which measures the marginal value of carbon dioxide abatement, often do not capture this risk...
Persistent link: https://www.econbiz.de/10010307625
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Level, Slope, Curvature: Characterising the Yield Curve in a Cointegrated VAR Model
Giese, Julia V. - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-28, pp. 1-20
Empirical evidence on the expectations hypothesis of the term structure is in-conclusive and its validity widely debated. Using a cointegrated VAR model of US treasury yields, this paper extends a common approach to test the theory. If, as we find, spreads between two yields are non-stationary,...
Persistent link: https://www.econbiz.de/10010298612
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How investor sentiments spillover from developed countries to developing countries?
Rehman, Muhammad Zia Ur; Abidin, Zain ul; Rizwan, Faisal; … - In: Cogent Economics & Finance 5 (2017) 1, pp. 1-17
This study aims to analyse the wage differentials between the Brazilian tourism and non-tourism service sectors. The statistics originate from micro-data for the year of 2012, published by the National Household Sample Survey, and released by the Brazilian Institute of Geography and Statistics....
Persistent link: https://www.econbiz.de/10011988745
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Global Banks and Synthetic Funding: The Benefits of Foreign Relatives
Eguren‐Martin, Fernando; Ossandon Busch, Matias; … - In: Journal of Money, Credit and Banking 56 (2023) 1, pp. 115-152
This paper examines the effect of dislocations in foreign currency (FX) swap markets (“CIP deviations”) on bank lending …. Using data from UK banks we show that when the cost of obtaining swap-based funds in a particular foreign currency increases … on swap-based FX funding. Access to foreign relatives matters as banks employ internal capital markets to shield their …
Persistent link: https://www.econbiz.de/10014525008
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What financial conditions affect dynamic equity risk factor allocation?
Backhaus, Achim; Zhakanova, Aliya; Bausch, Matthias - In: Economies 10 (2022) 2, pp. 1-21
The "technology bubble" in the late 1990s, the financial crisis in 2007/2008, and the Eurozone crisis generated significant losses across several asset classes. The objective of this paper is to investigate risk premia factors such as size, value, momentum, carry, quality, and low volatility and...
Persistent link: https://www.econbiz.de/10013199984
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Monetary policy and long-term interest rates
Amisano, Gianni; Tristani, Oreste - In: Quantitative Economics 14 (2023) 2, pp. 689-716
We study the relationship between monetary policy and long-term rates in a structural, general equilibrium model estimated on both macro- and yield-data from the United States. Regime shifts in the conditional variance of productivity shocks, or "uncertainty shocks," are a crucial driver of bond...
Persistent link: https://www.econbiz.de/10014536907