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Costly financial intermediation in neoclassical growth theory
Mehra, Rajnish; Piguillem, Facundo; Prescott, Edward C. - In: Quantitative economics : QE ; journal of the … 2 (2011) 1, pp. 1-36
The neoclassical growth model is extended to include costly intermediated borrowing and lending between households …. This is an important extension as substantial resources are used to intermediate the large amount of borrowing and lending … intermediation services are an intermediate good, and that the spread between borrowing and lending rates measures the efficiency of …
Persistent link: https://www.econbiz.de/10011755708
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Hard money and fiat money in an inflationary world
Wang, Guizhou; Hausken, Kjell - In: Research in international business and finance 67 (2024) 2, pp. 1-30
Persistent link: https://www.econbiz.de/10014451565
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Competition against common sense : insights on peer-to-peer lending as a tool to allay financial exclusion
Loureiro, Yuliya Komarova; Gonzalez, Laura - In: The international journal of bank marketing : IJBM 33 (2015) 5, pp. 605-623
Persistent link: https://www.econbiz.de/10011407142
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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 6 (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/10011460447
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Modern and traditional methods for measuring money supply : the case of Saudi Arabia
Barnett, William A.; Alkhareif, Ryadh M. - In: International Journal of Financial Studies : open … 3 (2015) 1, pp. 49-55
This paper compares the "simple-sum" monetary aggregates (M1 and M2) published by the Saudi Arabian Monetary Agency (SAMA) with the new monetary aggregates (D1 and D2)-known as the Divisia monetary indexes. The former aggregates are constructed from a simple accounting identity, whereas the...
Persistent link: https://www.econbiz.de/10010499567
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Metcalfe's law and log-period power laws in the cryptocurrencies market
Pele, Daniel Traian; Mazurencu-Marinescu-Pele, Miruna - 2019
In this paper the authors investigate the statistical properties of some cryptocurrencies by using three layers of analysis: alpha-stable distributions, Metcalfe’s law and the bubble behaviour through the LPPL modelling. The results show, in the medium to long-run, the validity of Metcalfe's...
Persistent link: https://www.econbiz.de/10012007412
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Currency substitution : evidence from Nigeria
Doguwa, Sani I. - In: CBN journal of applied statistics 5 (2014) 2, pp. 1-23
This paper examines the existence, causes and effects of currency substitution in Nigeria by estimating conventional money demand equations based on a partial adjustment and an autoregressive distributed lag models using three definitions of monetary aggregates. The behavior of the foreign...
Persistent link: https://www.econbiz.de/10011488762
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On the bottom-up foundations of the banking-macro nexus
Wäckerle, Manuel - 2013
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/10010199689
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Low interest rates and executive risk-taking incentives : evidence from the United States
Castro, Paula; Tascon, Maria T.; Castaño, Francisco J.; … - In: Business research quarterly : BRQ 24 (2021) 4, pp. 324-354
This article contributes to the literature by indicating how certain monetary policies impact the compensation incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and managers and between shareholders and creditors, a...
Persistent link: https://www.econbiz.de/10012694415
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The microfoundations of organizational ambidexterity : a systematic review of individual ambidexterity through a multilevel framework
Pertusa-Ortega, Eva M.; Molina Azorín, José Francisco; … - In: Business research quarterly : BRQ 24 (2021) 4, pp. 355-371
The analysis of ambidexterity at the individual level may help to open the black box of organizational ambidexterity and to address the microfoundations of the exploration/exploitation dilemma in order to know how it can be achieved. The purpose of this article is to examine the main...
Persistent link: https://www.econbiz.de/10012694420