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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
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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
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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/10014316628
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Should We be Afraid of Friedman's Rule?
Uhlig, Harald - C.E.P.R. Discussion Papers - 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/10005788876
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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
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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
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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
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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
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Rethinking credit risk under the malinvestment concept: The case of Germany, Spain and Italy
Ekinci, Aykut - In: European Financial and Accounting Journal 11 (2016) 1, pp. 39-63
This study argues that increasing malinvestment in an economy raises the actual credit risk but not the calculated credit risk until the onset of a recession. To this end, I analyse the relationship between credit risk and malinvestment in Germany, Spain, and Italy using a credit risk indicator...
Persistent link: https://www.econbiz.de/10011937443
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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