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The demand for cash in France : review of evidence : Deutsche Bundesbank International Cash Conference : 25 – 27 April 2017
Politronacci, Emmanuelle; Ninlias, Elodie; Palazzeschi, Enda - 2017
Despite the well-known difficulties to measure national euro circulations within the euro area, several methods have been used to estimate the national demand for euro banknotes in France, such as key-based calculations (ECB capital), approaches using average return time of banknotes or...
Persistent link: https://www.econbiz.de/10011730983
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Choice of payment instrument for low-value transactions in Japan
Fujiki, Hiroshi; Tanaka, Migiwa - 2017
In this paper, we examine the determinants of the choice of payment instrument for low-value day-to-day transactions. Using Japanese household data from 2007 to 2014, we find that three payment instruments, namely, cash, electronic money, and credit cards, comprise the major payment choices for...
Persistent link: https://www.econbiz.de/10011731441
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Domestic and foreign demand for euro banknotes issued in Germany
Bartzsch, Nikolaus; Uhl, Matthias - 2017
To facilitate a more detailed study of the volume of euro banknotes in circulation issued by the Deutsche Bundesbank, it is broken down into the components of foreign demand, domestic hoarding and domestic transaction balances. These banknote demand components are estimated using the direct...
Persistent link: https://www.econbiz.de/10011731481
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Effective exchange rate regimes and inflation
Harms, Philipp; Knaze, Jakub - 2021 - This version: February 5, 2021
that our "effective" approach is superior when it comes to assessing the impact of exchange rate regimes on inflation … trading partners. Using our measure of effective exchange rate regimes in a standard empirical analysis of inflation … associated with significantly lower inflation rates. This challenges the established view that soft pegs do not matter - or are …
Persistent link: https://www.econbiz.de/10013329739
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Active, or passive? : revisiting the role of fiscal policy in the Great Inflation
Ettmeier, Stephanie; Kriwoluzky, Alexander - 2019
We revisit the question whether U.S. fiscal policy in the pre-Volcker period was active or passive. To determine the policy stance, we estimate a DSGE model with monetary and fiscal policy interactions employing a sequential Monte Carlo algorithm (SMC) for posterior evaluation. In contrast to...
Persistent link: https://www.econbiz.de/10012309706
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Missing growth measurement in Germany
Schreiber, Sven; Schmidt, Vanessa - 2020 - This version: September 2020
published data. The underlying effect rests on overstated inflation estimates due to imputed prices for disappearing goods and …
Persistent link: https://www.econbiz.de/10012437529
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Endogenous forward guidance
Chafwehé, Boris; Oikonomou, Rigas; Priftis, Romanos; … - 2019
commiting to keep interest rates low at the exit of the liquidity trap, to stabilize inflation today. 2. From debt … consolidated budget) monetary policy becomes subservient to fiscal policy, giving rise to more volatile inflation, output and … interest rates. Liquidity trap (LT) episodes are longer, however, the impact of interest rate policy commitments on inflation …
Persistent link: https://www.econbiz.de/10012304687
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Empirical analysis of money demand function with economic uncertainty
Gan, Pei-Tha; Lim, Siew-Yong; Hussin, Mohd Yahya Bin Mohd; … - In: International journal of economics and financial issues … 5 (2015) 1, pp. 92-97
Persistent link: https://www.econbiz.de/10011660828
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Empirical analysis of money demand function with economic uncertainty
Gan, Pei-Tha; Lim, Siew-Yong; Hussin, Mohd Yahya Bin Mohd; … - In: International journal of economics and financial issues … 5 (2015) 1, pp. 98-105
Persistent link: https://www.econbiz.de/10011660838
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How does international capital flow?
Kumhof, Michael; Phurichai Rungcharoenkitkul; Sokol, Andrej - 2021 - This is an updated version of the Staff Working Paper originally published on 21 August 2020
Understanding gross capital flows is increasingly viewed as crucial for both macroeconomic and financial stability policies, but theory is lagging behind many key policy debates. We fill this gap by developing a two-country DSGE model that tracks domestic and cross-border gross positions between...
Persistent link: https://www.econbiz.de/10013328302