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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 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

Modeling which factors impact interest rates

Wang, Guizhou; Hausken, Kjell - In: Journal of central banking theory and practice 12 (2023) 2, pp. 211-237

The Taylor (1993) rule for determining interest rates is generalized to account for three additional variables: The money supply, money velocity, and the unemployment rate. Thus, five parameters, i.e. weights assigned to the deviation in the inflation rate, the deviation in real GDP (Gross...

Persistent link: https://www.econbiz.de/10014316675

Optimal Monetary Policy in a Currency Union : Should a Central Bank Care about Output Stabilization?

Thams, Andreas - 2008

In this paper we derive optimal monetary targeting rules under various assumptions about fiscal behavior. In contrast to the existing literature we use a linear-quadratic approach and allow for dynamic games between the two policy authorities. It is shown that optimal monetary behavior is...

Persistent link: https://www.econbiz.de/10012726512

Monetary Policy Transmission in the Eastern Caribbean Currency Union

Myrvoda, Alla - 2018

This paper empirically investigates international and domestic monetary policy transmission mechanisms in the Eastern Caribbean Currency Union (ECCU). We assess interest rate pass-through of both the U.S. policy rate and the ECCU minimum saving deposit rate (MSR) into domestic interest rates...

Persistent link: https://www.econbiz.de/10012918570

Monetary Policy Transmission Mechanisms and Currency Unions : A Vector Error Correction Approach to a Trans-Tasman Currency Union

Haug, Alfred A.; Karagedikli, Özer; Ranchhod, Satish - 2006

Transmission mechanisms are the channels through which monetary policy affects macroeconomic variables, such as GDP and inflation. Differences in transmission mechanisms can generate asymmetric behaviour among currency union partners when they experience shocks. This has the potential to widen...

Persistent link: https://www.econbiz.de/10014083025

The Euro's Savior? Assessing the ECB's Crisis Management Performance and Potential for Crisis Resolution

Bibow, Jörg - 2015

that the ECB may well stand out positively when compared to other important euro-area or national authorities involved in … managing the euro crisis, but that in general the bank did “too little, too late” to prevent the euro area from slipping into … excessively optimistic, and that proposals featuring the central bank as the euro's savior through even more radical employment of …

Persistent link: https://www.econbiz.de/10013014075

Did Monetary Laxity in Japan Cause the Bubble?

Posen, Adam S. - In: CESifo Forum 04 (2003) 4, pp. 21-26

Persistent link: https://www.econbiz.de/10011695739

The central-bank balance sheet as an instrument of monetary policy

Cúrdia, Vasco; Woodford, Michael - 2010

While many analyses of monetary policy consider only a target for a short-term nominal interest rate, other dimensions of policy have recently been of greater importance: changes in the supply of bank reserves, changes in the assets acquired by central banks, and changes in the interest rate...

Persistent link: https://www.econbiz.de/10008657197

Superstar central bankers : conference paper

Neuenkirch, Matthias; Tillmann, Peter - 2014

The personalities of central bankers moved center stage during the recent financial crisis. Some central bankers even gained "superstar" status. In this paper, we evaluate the pivotal role of superstar central bankers by assessing the difference an outstanding governor makes to economic...

Persistent link: https://www.econbiz.de/10010487271

The Central-Bank Balance Sheet as an Instrument of Monetary Policy

Cúrdia, Vasco - 2010

Persistent link: https://www.econbiz.de/10013139787