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Development and Stabilization in Small Open Economies
Worrell, DeLisle - 2023
Policy makers in small open economies continue to manage exchange rates as though there is a relationship between the US dollar value of the domestic currency (if they have one) and the performance of the economy. This paper, which presents some essential messages of my recent book Development...
Persistent link: https://www.econbiz.de/10014358567
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Evaluation of macroeconomic models for financial stability analysis
Bårdsen, Gunnar; Lindquist, Kjersti-Gro; Tsomocos, … - Institutt for Samfunnsøkonomi, Norges … - 2006
As financial stability has gained focus in economic policymaking, the demand for analyses of financial stability and the consequences of economic policy has increased. Alternative macroeconomic models are available for policy analyses, and this paper evaluates the usefulness of some models from...
Persistent link: https://www.econbiz.de/10005823070
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Inflation Expectations and Stability in an Overlapping Generations Experiment with Money Creation
Heemeijer, Peter; Hommes, Cars; Sonnemans, Joep; … - de Nederlandsche Bank - 2010
We investigate how non-specialists form inflation expectations by running an experiment using a basic Overlapping … Generations (OLG) model. The participants of the experiment are students of the University of Amsterdam, who predict inflation … increases the money supply at a constant rate. Participants are placed in separate OLG economies and are divided over two …
Persistent link: https://www.econbiz.de/10008507034
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Fractional Reserve Banking as Economic Parasitism: A Scientific, Mathematical & Historical Expose, Critique, and Manifesto
Nuri, Vladimir Z. - EconWPA - 2002
This paper looks at the history of money and its modern form from a scientific and mathematical point of view. The …. Some implications of the equation are outlined, derived, and proved. The phenomena of counterfeiting, inflation and … fundamental legitimacy of ``expansion of the money supply'' in particular is re-examined and challenged. From the hypotheses a …
Persistent link: https://www.econbiz.de/10005126382
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THE THEORY AND MEASUREMENT OF CASH PAYMENTS; A CASE STUDY OF THE NETHERLANDS
Feige, Edgar L. - EconWPA - 2005
One of the more intractable problems in the area of monetary economics is the measurement of cash payments. Whereas the stock of currency in circulation [C] is well defined and readily measured, the transactions velocity of currency [Vc] (the average number of times currency turns over in any...
Persistent link: https://www.econbiz.de/10005126438
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Real Interest Rates and the Crisis: Where are the Rates Headed?
Martellato, Dino - Dipartimento di Economia, Università Ca' Foscari Venezia - 2009
This paper examines the likely direction of real interest rates in the Euro area and the United States from April 2009 on. It is argued that the crisis that began in 2007 and the ensuing recession changed the descending trend in real interest rates which started a long time ago. If real interest...
Persistent link: https://www.econbiz.de/10005003367
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Evaluation of macroeconomic models for financial stability analysis
Bårdsen, Gunnar; Lindquist, Kjersti-Gro; Tsomocos, … - Norges Bank - 2006
As financial stability has gained focus in economic policymaking, the demand for analyses of financial stability and the consequences of economic policy has increased. Alternative macroeconomic models are available for policy analyses, and this paper evaluates the usefulness of some models from...
Persistent link: https://www.econbiz.de/10005063114
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Negative Nominal Interest Rates: Three ways to overcome the zero lower bound
Buiter, Willem H. - C.E.P.R. Discussion Papers - 2009
The paper considers three methods for eliminating the zero lower bound on nominal interest rates and thus for restoring symmetry to domain over which the central bank can vary its policy rate. They are: (1) abolishing currency (which would also be a useful crime-fighting measure); (2) paying...
Persistent link: https://www.econbiz.de/10005034754
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Evaluation of macroeconomic models for financial stability analysis
Tsomocos, Dimitrios P; Bardsen, Gunnar - Department of Economics, Oxford University - 2006
As financial stability has gained focus in economic policymaking, the demand for analyses of financial stability and the consequences of economic policy has increased. Alternative macroeconomic models are available for policy analyses, and this paper evaluates the usefulness of some models from...
Persistent link: https://www.econbiz.de/10010661370
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A New Keynesian Open Economy Model for Policy Analysis
Carlin, Wendy; Soskice, David - C.E.P.R. Discussion Papers - 2010
rational expectations in both the foreign exchange market and the central bank, and is well-suited to analyze how an inflation … domestic inflation and we show how a CPI inflation target modifies the analysis. …
Persistent link: https://www.econbiz.de/10008611019