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Has the transmission of policy rates to lending rates been impaired by the Global Financial Crisis?

Gambacorta, Leonardo; Illes, Anamaria; Lombardi, Marco … - Bank for International Settlements (BIS) - 2014

Central banks of major advanced economies have maintained a very accommodative monetary policy stance in the last few years. However, concerns have surfaced that the transmission of low policy rates to lending rates has been weaker than in the past. Has the transmission of policy rates to...

Persistent link: https://www.econbiz.de/10011106749

Money as gold versus money as water

Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2013

The rules of the Eurozone cause the euro to function as the gold standard. The US economy performs better in some respects, partly because of the advantages of fiat money. The treaty on the EMU has to be adapted in order not to become dependent upon current ad hoc measures, with the loss of...

Persistent link: https://www.econbiz.de/10011107257

The Effects of Discretionary Fiscal Stimulus: A Survey

Hristov, Atanas - Volkswirtschaftliche Fakultät, … - 2012

This paper surveys evidence on fiscal multipliers from the Euro area and the United States obtained by direct, cross-state or economywide measures of the effects of broad-based tax cuts and increases in government purchases. In view of the evidence in the literature I conclude that that fiscal...

Persistent link: https://www.econbiz.de/10011107362

Volatility Transmission of Overnight Rate along the Yield Curve in Pakistan

Mahmood, Asif - Volkswirtschaftliche Fakultät, … - 2014

This paper presented the empirical results of the volatility transmission of overnight rate along the yield curve in case of Pakistan. The results indicate that the volatility transmission of overnight repo rate is higher at the shorter end of the yield curve while lower at the longer end. These...

Persistent link: https://www.econbiz.de/10011107405

Epicarmo Corbino, economista liberale neoclassico

Cavalieri, Duccio - Volkswirtschaftliche Fakultät, … - 2010

This is an analysis of the personality of prof. Epicarmo Corbino (1890-1984), centered on his cultural identity, his vision of economic policy, his way of interpreting the relationship between theory and history and his important activity of politician and statesman. The portrait that emerges is...

Persistent link: https://www.econbiz.de/10011107550

Influence of institutional factors and wage-setting mechanism in a dual labour market with currency union: Northern Cyprus

Kayam, Saime S. - Volkswirtschaftliche Fakultät, … - 2011

financing and institutional restraints on inflation are analyzed in a dual economy with different wage-setting mechanisms. In … this case the inflation rate and unemployment. The institutional restraints such as economic sanctions increase the …

Persistent link: https://www.econbiz.de/10011107743

Examining the volatility of exchange rate: Does monetary policy matter?

Lim, Shu Yi; Sek, Siok Kun - Volkswirtschaftliche Fakultät, … - 2014

.e. the pre- and post- inflation targeting (IT) regimes. In addition, we also investigate if the monetary decisions can have … switch of monetary policy from the rigid exchange rate to flexible exchange rate and inflation targeting after the Asian … show that the adoption of flexible exchange rate and inflation targeting lead to greater volatility in exchange rate. The …

Persistent link: https://www.econbiz.de/10011107821

Monetary Policy Shocks from the EU and US: Implications for Sub-Saharan Africa

Kronick, Jeremy - Volkswirtschaftliche Fakultät, … - 2014

This paper addresses the debate in the literature on how developing countries are affected by foreign monetary policy shocks. I analyze how contractionary monetary policy shocks originating in different regions, specifically the Euro Area (“EU”) and United States (“US”), affect a set of...

Persistent link: https://www.econbiz.de/10011107889

Системный кризис российской экономики (раздел III, Гл.1)

Neshitoj, Анатолий Семенович Нешитой - Institute of Economics, Russian Academy of Sciences (RAS)

В главе на основе анализа современного состояния российской экономики сделан вывод о системном характере современного кризиса, о неприемлемости действующей...

Persistent link: https://www.econbiz.de/10011026398

Do good institutions promote counter-cyclical macroeconomic policies?

Calderón, César; Duncan, Roberto; Schmidt-Hebbel, Klaus - Federal Reserve Bank of Dallas - 2012

The literature has argued that developing countries are unable to adopt counter-cyclical monetary and fiscal policies due to financial imperfections and unfavorable politicaleconomy conditions. Using a world sample of 115 industrial and developing countries for 1984-2008, we find that the level...

Persistent link: https://www.econbiz.de/10011026846