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Money Field Theory: in Pursuit of Formalism

Maslov, Alexander; Ivanchenko, Igor - Volkswirtschaftliche Fakultät, … - 2011

The article explores the possibility of interaction between financial and industrial sectors of an economy via such a new economic notion as a pervasive money field, which is used to pin down the elusive entropy of financial markets. The theory of a field originally comes from physics and we...

Persistent link: https://www.econbiz.de/10011112654

Money supply determination process for Japan

Ongan, Serdar; Gocer, Ismet - In: Journal of Central Banking Theory and Practice 12 (2023) 1, pp. 249-261

This study re-investigates the money supply determination process for Japan. The methodology of this study, which … of the Bank of Japan (BOJ) separately in a nonlinear manner. The main findings of the study indicate that the money … supply determination process is endogenous with an unstable money multiplier for Japan for M1. However, this endogeneity in …

Persistent link: https://www.econbiz.de/10014558518

Should we be Afraid of Friedman's Rule?

Uhlig, H.F.H.V.S. - Tilburg University, Center for Economic Research - 2000

Persistent link: https://www.econbiz.de/10011092640

Should we be afraid of Friedman's rule?

Uhlig, Harald - EconWPA - 2000

Should one think of zero nominal interest rates as an undesirable liquidity trap or as the desirable Friedman rule? I use three different frameworks to discuss this issue. First, I restate Cole and Kocherlakota's (1998) analysis of Friedman's rule: short run increases in the money stock -...

Persistent link: https://www.econbiz.de/10005561156

Should We be Afraid of Friedman's Rule?

Uhlig, Harald - C.E.P.R. Discussion Papers - 2000

Persistent link: https://www.econbiz.de/10005788876

Money supply determination process for Japan

Ongan, Serdar; Gocer, Ismet - In: Journal of central banking theory and practice 12 (2023) 1, pp. 249-261

Persistent link: https://www.econbiz.de/10014316628

A macro-model to monetary transmission analysis in Tunisia$

Makni, Aymen - 2019

In this paper, we develop a gap model based on a reduced form of the New Keynesian Model. The model offers various scenario structure tools which analyze the dynamics of key macro economic variables under diverse shocks and depicts their properties and historical decompositions. This framework...

Persistent link: https://www.econbiz.de/10012049300

On the mechanics of New-Keynesian models

Rupert, Peter; Šustek, Roman - 2016

We scrutinize the monetary transmission mechanism in New-Keynesian models, focusing on the role of capital, the key ingredient in the transition from the basic framework to DSGE models. The widely held view that monetary policy affects output and inflation in these models through a real interest...

Persistent link: https://www.econbiz.de/10011796508

Asymmetric Information, Financial Intermediation and the Monetary Transmission Mechanism: A Critical Review

Claus, Iris; Grimes, Arthur - 2003

Macroeconomic models currently used by policy makers generally assume that the workings of financial markets can be fully summarised by financial prices, because the Modigliani and Miller (1958) theorem holds. This paper argues that these models are too limited in describing how monetary policy...

Persistent link: https://www.econbiz.de/10012115536

Entrepreneurial Moral Hazard and Bank Monitoring: A Model of the Credit Channel

Repullo, Rafael; Suarez, Javier - C.E.P.R. Discussion Papers - 1999

This paper develops a model of the choice between bank and market finance by entrepreneurial firms that differ in the value of their net worth. The monitoring associated with bank finance ameliorates a moral hazard problem between the entrepreneurs and their lenders. The model is used to analyze...

Persistent link: https://www.econbiz.de/10005504796