Similar Search Results

Constructing divisia monetary aggregates for Nigeria

Bello, Yakubu. A.; Audu, Salihu; Ibrahim, Hamman; … - In: CBN journal of applied statistics 13 (2022) 1, pp. 163-207

This study computes Divisia monetary aggregates DM1, DM2, and DM3 for Nige- ria using the Tornqvist-Theil quantity index for the period 2007M12 to 2020M12 and evaluates the performance of the higher-order aggregate (DM3) with a corre- sponding higher aggregate of the simple sum broad money...

Persistent link: https://www.econbiz.de/10014282087

Revisiting the Taylor Rule with Divisia Monetary Aggregates : A Wavelet Coherency Analysis

Beyza, Akyol; Furkan, Atlı; Gul, İbrahim Hakki - 2022

In this study, we compare simple sum and Divisia monetary aggregates under a Taylor rule formation for the U.S. economy to figure out if there exists any improvement in the estimation of inflation and output when a theoretically convincing definition of money i.e., Divisia money, is utilized....

Persistent link: https://www.econbiz.de/10013298648

Easy Money : the Inefficient Supply of Inside Liquidity

Galluzzi, Alessio - 2021

In modern market economies, money supply depends more on liquid debt securities, such as deposits and commercial paper, created by financial intermediaries. However, the recent financial crisis has exposed the fragility of this source of liquidity. This paper outlines a model in which currency,...

Persistent link: https://www.econbiz.de/10013314003

Two Papers on the Volatility of Money Stock Targeting

Tinsley, Peter A.; Von zur Mühlen, Peter; Fries, Gerhard - 2022

This paper introduces an empirical measure of the cost of allocating money market volatility between the money stock and the Federal funds rate, the principal purpose being to devise a framework for data-based measures of the short-run implied by alternative operating procedures

Persistent link: https://www.econbiz.de/10013403837

Money Creation : Empirical Evidence of Endogeneity

Faure, Alexander Pierre - 2013

Many scholars have fought valiantly to change perceptions on the process of money creation. However, misconceptions remain in place some quarters. In order to demonstrate empirically that a new bank loan creates a new bank deposit (without the bank having to recruit a new deposit), the author...

Persistent link: https://www.econbiz.de/10013082232

Excess liquidity and the usefulness of the money multiplier

Berk, Jan Marc; End, Jan-Willem van den - In: Credit and capital markets : Kredit und Kapital 55 (2022) 4, pp. 457-488

We model the behaviour of banks as a main driver of the changing components of the money multiplier (MM). So we provide behavioural underpinnings for the supply and demand for inside and outside money. We illustrate how the creation of large outside money balances by central banks induces...

Persistent link: https://www.econbiz.de/10014518597

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 differs from previous studies, is constructed on the assumption of potential nonlinear (asymmetric) relations between money supply and monetary base via money multiplier. To this...

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

Recent Monetary Policy and the Credit Card-Augmented Divisia Monetary Aggregates

Liu, Jinan - 2020

-augmented Divisia inside monetary aggregates to the conventional Divisia monetary aggregates, at all levels of monetary aggregation …

Persistent link: https://www.econbiz.de/10012836812

The Goldilocks Measure of UK Monetary Aggregates : An Introduction to MA

Evans, Anthony J. - 2014

The 2008/09 financial crisis and subsequent recession has created renewed attention to UK monetary aggregates. This discussion paper argues that although measures of the money supply are crucial to understanding the economy, existing approaches are flawed: "Notes and Coin" is too narrow, and M4...

Persistent link: https://www.econbiz.de/10013052899

Aggregation-Theoretic Monetary Aggregation Over the Euro Area, When Countries are Heterogeneous

Barnett, William A. - 2021

aggregation over countries. Our theory permits monitoring the effects of policy at the aggregate level over the euro area, while …We derive fundamental new theory for measuring monetary service flows aggregated over countries within the European … aggregation across countries over the heterogeneous representative agents, and we derive the resulting formulas for stochastic …

Persistent link: https://www.econbiz.de/10013319716