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International capital flows and monetary policy reaction in Nigeria: Are there asymmetric effects?
Isa, Audu; Ibrahim, Adeleke Adegoke; Ezekiel, Adedeji Kayode - In: West African Journal of Monetary and Economic Integration 20 (2020) 1a, pp. 22-43
This paper examines the monetary policy response to fluctuations in international capital flows to Nigeria. This study improves on previous studies by employing the recent asymmetric ARDL approach to examine whether capital flow fluctuations have symmetric or asymmetric effects on monetary...
Persistent link: https://www.econbiz.de/10013362926
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Unconventional U.S. monetary policy: New tools, same channels?
Feldkircher, Martin; Huber, Florian - In: Journal of Risk and Financial Management 11 (2018) 4, pp. 1-31
In this paper, we compare the transmission of a conventional monetary policy shock with that of an unexpected decrease … volatility, our results are two-fold: First, the spread shock works mainly through a boost to consumer wealth growth, while a … conventional monetary policy shock affects real output growth via a broad credit/bank lending channel. Second, both shocks exhibit …
Persistent link: https://www.econbiz.de/10012611059
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The External Finance Premium and the Financial Accelerator: The Case of Turkey
Cambazoğlu, Birgül; Karaalp, Hacer Simay - In: International Journal of Economic Sciences and Applied … 6 (2013) 1, pp. 103-121
decomposition. The results indicate that contractionary monetary policy shock, which led to increased external finance premium …, negatively affected the manufacturing sector and decreased total output. In other words, the monetary shock negatively affected …
Persistent link: https://www.econbiz.de/10011310246
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Towards full-fledged inflation targeting monetary policy regime in Mauritius
Madhou, Ashwin; Sewak, Tayushma; Moosa, Imad A.; … - In: Journal of Risk and Financial Management 14 (2021) 3, pp. 1-18
An increasing number of emerging and developing countries have adopted or are transitioning towards full-fledged inflation targeting (FFIT) as the main monetary policy framework to anchor inflation. In this paper, we explore the FFIT regime as a means for Mauritius to achieve stable inflation,...
Persistent link: https://www.econbiz.de/10012611683
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A DSGE Model of Slovakia with Frictional Labor Market and Monetary Regime Switch
Pápai, Adam - In: Review of Economic Perspectives 17 (2017) 3, pp. 287-313
The aim of this paper is to examine the dynamical and structural characteristics of Slovakia using a dynamic stochastic general equilibrium model augmented with search and matching mechanisms and other forms of frictions. I implement a switching mechanism to account for the monetary regime...
Persistent link: https://www.econbiz.de/10011860063
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Nichts als Strohfeuer? Eine kritische Analyse des wirtschaftspolitischen Assignments im "Neuen Konsens" mit Hilfe eines makrooekonometrischen Politiksimulationsmodells der Schweize...
Hartwig, Jochen - In: Intervention. Zeitschrift fuer Ökonomie / Journal of … 01 (2004) 2, pp. 107-134
The paper is concerned with the traditional "assignment" to be found in many textbooks that holds central bankers responsible for inflation – and inflation only – while government politicians are recommended to care for the short-term stabilisation of the economy (or not to interfere at all,...
Persistent link: https://www.econbiz.de/10014362935
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Schiffbruch ohne Tiger: Das OMT-Programm der Europäischen Zentralbank
Hristov, Nikolay; Hülsewig, Oliver; Siemsen, Thomas; … - In: ifo Schnelldienst 67 (2014) 04, pp. 15-16
Die Europäische Zentralbank (EZB) begründet ihr »Outright-Monetary-Trans­actions«-Programm (OMT-Programm) offiziell mit Störungen in der geldpolitischen Transmission, die sich darin zeigen, dass die Kreditzinsen für Unternehmen in den Krisenländern der Eurozone trotz der massiven...
Persistent link: https://www.econbiz.de/10011693616
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Net worth ratio and financial instability
Watanabe, Toshio - In: Journal of Economic Structures 2 (2013), pp. 1-18
In order to better understand relationships between the real economy and financial economy, it is necessary to formulate a model of financing. New Keynesian theory emphasizes that a firm's net worth influences investment decisions and business cycles under an imperfect capital market. We have...
Persistent link: https://www.econbiz.de/10011551998
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Monetary policy rule: A broad monetary conditions index for Nigeria
Yaaba, Baba N. - In: CBN Journal of Applied Statistics 04 (2013) 1, pp. 35-53
To determine the relative importance of both the domestic and external influences on monetary policy formulation, this paper constructs a broad monetary conditions index for Nigeria. It brings together the three key channels of monetary transmission, namely interest rate, exchange rate and...
Persistent link: https://www.econbiz.de/10011482584
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Geldpolitik und Vermögensmärkte
Dreger, Christian; Wolters, Jürgen - In: Vierteljahrshefte zur Wirtschaftsforschung 78 (2009) 1, pp. 56-65
. Andererseits wäre im Fall steigender Vermögenspreise eine restriktivere Geldpolitik erforderlich, die die Dynamik von Produktion … die USA, den Euroraum, Japan und Großbritannien spezifiziert. Während die Geldpolitik keinen Einfluss auf die Entwicklung … eine restriktivere Geldpolitik bei nicht fundamental begründeten Preissteigerungen tatsächlich dämpfend auf die Entwicklung …
Persistent link: https://www.econbiz.de/10010377866