In the canonical monetary policy model, money is endogenous to the optimal path for interest rates and output. But when … liquidity provision by banks dominates the demand for transactions money from the real economy, money is likely to contain … information for future output and inflation because of its impact on financial spreads. And so we decompose broad money into …

In the canonical monetary policy model, money is endogenous to the optimal path for interest rates, output. But when … liquidity provision by banks dominates the demand for transactions money from the real economy, money is likely to contain … information for future output and inflation because of its impact on financial spreads. And so we decompose broad money into …

-specie-flow theory with basic macroeconomic aggregates for the the 1820-60 period. To the extent that money supply shocks account for the … cycle, their influence is limited to their impact made via changes in the world money stock. Because individual country … depend on both the world money stock and real market forces that distinguish one country from another. Money supply shocks …

property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market … restrictions. Our results suggest that capital inflow shocks have a significant effect on the appreciation of house prices and … equity prices. Capital inflow shocks account for - roughly - twice the portion of overall house price changes they explain in …

property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market … restrictions. Our results suggest that capital inflow shocks have a significant effect on the appreciation of house prices and … equity prices. Capital inflow shocks account for - roughly - twice the portion of overall house price changes they explain in …

property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market … restrictions. Our results suggest that capital inflow shocks have a significant effect on the appreciation of house prices and … equity prices. Capital inflow shocks account for - roughly - twice the portion of overall house price changes they explain in …

property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market … restrictions. Our results suggest that capital inflow shocks have a significant effect on the appreciation of house prices and … equity prices. Capital inflow shocks account for - roughly - twice the portion of overall house price changes they explain in …

property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market … restrictions. Our results suggest that capital inflow shocks have a significant effect on the appreciation of house prices and … equity prices. Capital inflow shocks account for - roughly - twice the portion of overall house price changes they explain in …

property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market … restrictions. Our results suggest that capital inflow shocks have a significant effect on the appreciation of house prices and … equity prices. Capital inflow shocks account for – roughly – twice the portion of overall house price changes they explain in …

property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market … restrictions. Our results suggest that capital inflow shocks have a significant effect on the appreciation of house prices and … equity prices. Capital inflow shocks account for - roughly - twice the portion of overall house price changes they explain in …