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The COVID-19 Pandemic : Is Now the Time for Modern Monetary Theory or Permanent Monetary Finance?

Schlotmann, Olaf - 2020

In response to the COVID-19 pandemic, G7 central banks have launched asset purchase programs in anticipation of an increase in government bond offerings to finance ballooning fiscal deficits. As the volume of government bonds owned by private investors is not expected to rise during the current...

Persistent link: https://www.econbiz.de/10012833335

Russia’s 2011 Monetary Policy

Trunin, Pavel - 2012

This paper deals with Russia's monetary policy in 2011. The authors analyze Russia's money morket, inflationary development, main measures in the monetary policy, the balance of payments and the RUR exchange rate

Persistent link: https://www.econbiz.de/10013103309

Monetary Transmission Mechanism in the East African Community : An Empirical Investigation

Davoodi, Hamid R. - 2013

Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i … policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation - posing …

Persistent link: https://www.econbiz.de/10013086307

Excess Reserves, Unconventional Monetary Policy and the Consequences for Fiscal Stimulus Packages

Terveer, Pascal - 2014

Employing huge economic stimulus packages was a common response of many policy leaders during the past financial crisis. In Germany for instance, the government enacted two fiscal packages with an overall volume of approximately 80 billion Euros. On the other hand, the distortions in the banking...

Persistent link: https://www.econbiz.de/10013053647

Monetary Equilibrium and Price Stickiness Reconsidered : A Reply to Bagus and Howden

Luther, William J. - 2014

Bagus and Howden (2011) argue that price stickiness is a poor justification for advocating a flexible money supply through the issuing of fiduciary media under central or free banking. They view the contraction in output following an exogenous increase in money demand as an optimal response,...

Persistent link: https://www.econbiz.de/10013066751

Ukraine’s Monetary Policy Effectiveness under War

Shapoval, Yuliia - 2023

Notwithstanding the Ukrainian banking system's resilience under war, there are devaluation and inflation pressures. In … priority of inflation targeting and a freely floating exchange rate in favour of monetary financing of the budget deficit. The … slight increase of deposits rates, DGBs did not restrain inflation due to the lack of alternative monetary financing of the …

Persistent link: https://www.econbiz.de/10014263862

The Bank of Russia at the Crossroads: Does the Monetary Policy Needs Easing

Goryunov, Eugene; Trunin, Pavel - Gaidar Institute for Economic Policy - 2013

This study develops the approach of corruption measurement based on the income-expenditure comparison. Using micro-level data on reported household earnings, expenditures and assets provided by Russian Longitudinal Monitoring Survey for the period 2000-2009 we find that households with workers...

Persistent link: https://www.econbiz.de/10010660242

Central banking and financial innovation. A survey of the modern literature

Berk, Jan Marc - In: BNL Quarterly Review 55 (2002) 222, pp. 263-297

We review the literature regarding the impact of financial innovation on the monetary transmission mechanism and on the way the central bank can achieve its ultimate goal, that is to control the price level. We argue that, although the form ofcentral bank instruments and current methods for...

Persistent link: https://www.econbiz.de/10010752505

Central banking and financial innovation. A survey of the modern literature

Berk, Jan Marc - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 222, pp. 263-297

Persistent link: https://www.econbiz.de/10010752556

The European Central Bank and the US Federal Reserve as Lender of Last Resort

Herr, Hansjörg - In: Panoeconomicus 61 (2014) 1, pp. 59-78

Without a lender of last resort financial stability is not possible and systemic financial crises get out of control. During and after the Great Reces-sion the US Federal Reserve System (Fed) and the European Central Bank (ECB) took on the role of lender of last resort in a comprehensive way....

Persistent link: https://www.econbiz.de/10011134496