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Excess liquidity in the euro area : sources and remedies
Dąbrowski, Marek - 2023
The excess liquidity in the euro area is a product of a long period of quantitative easing. It changed the operational framework of the European Central Bank (ECB)’s monetary policy from the scarce reserves system (SRS) to the abundant reserves system (ARS). To eliminate excess liquidity and...
Persistent link: https://www.econbiz.de/10014491928
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Tests of the Functional Form, The Substitution Effect, and the Wealth Effect of Mexico's Money Demand Function
Hsing, Yu - 2007
the saving rate, the U.S. interest rate, and the expected inflation rate. Peso depreciation affects M1 demand negatively …
Persistent link: https://www.econbiz.de/10012776378
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Wealth Effects and Russian Money Demand
Mehrotra, Aaron N. - 2013
We examine wealth effects for Russian money demand in a cointegrated vector autoregressive framework. We find that an aggregate wealth variable, as well as the components housing and equity prices included separately, significantly enter the long-run money demand relationship. There are feedback...
Persistent link: https://www.econbiz.de/10013094381
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Money demand stability and inflation prediction in the four largest EMU countries
Carstensen, Kai; Hagen, Jan; Hossfeld, Oliver; Salazar … - 2008
countryspecific measures, particularly since the start of EMU, and is useful to predict country-specific inflation. However, it … generally does not encompass country-specific money overhang measures as predictors of inflation. Hence, aggregate money …
Persistent link: https://www.econbiz.de/10010263515
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Money Demand Stability and Inflation Prediction in the Four Largest EMU Countries
Carstensen, Kai; Hagen, Jan; Hossfeld, Oliver; Salazar … - 2008
-specific measures,particularly since the start of EMU, and is useful to predict country-specific inflation.However, it generally does … not encompass country-specific money overhang measuresas predictors of inflation. Hence, aggregate money overhang is an …
Persistent link: https://www.econbiz.de/10010312123
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Welfare costs of inflation and the circulation of US currency abroad
Calza, Alessandro; Zaghini, Andrea - 2011
Empirical studies of the "shoe-leather" costs of inflation are typically computed using M1 as a measure of money. Yet … minimized for a positive but moderate value of the inflation rate, thereby justifying a deviation from the Friedman rule in … favour of the Fed's current policy. - Welfare costs of inflation ; flow of funds data ; US currency abroad …
Persistent link: https://www.econbiz.de/10009006654
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Inflationary Implication of Gold Price in Vietnam
Siregar, Reza - 2013
, the movements in the price of gold seem to lead a symmetrical trend in the headline inflation since the outbreak of the …, shifts in the gold price should be monitored as one of the determining factors of inflation. Yet, hardly any study has …-digit inflation rates …
Persistent link: https://www.econbiz.de/10013081971
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Seigniorage, (Hyper)Inflation and Money Demand in Venezuela in the XXI Century : A First Estimation Attempt
Saboin, Jose Luis - 2018
determine when and if a seigniorage-maximizing inflation rate occurred and this way provide a rational on the development of … that the seigniorage-maximizing rate of inflation of the Venezuelan economy occurred around the first quarter of 2016 at a … monthly inflation rate of approximately 13 percent. The implications of this are that when facing the choice of maximizing …
Persistent link: https://www.econbiz.de/10012906561
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Welfare Costs of Inflation and the Circulation of US Currency Abroad
Calza, Alessandro - 2015
Empirical studies of the shoe-leather costs of inflation are typically computed using M1 as a measure of money. Yet … moderate value of the inflation rate, thereby justifying a deviation from the Friedman rule in favor of the Fed's current …
Persistent link: https://www.econbiz.de/10013037484
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Welfare Costs of Inflation and the Circulation of US Currency Abroad
Calza, Alessandro - 2011
Empirical studies of the "shoe-leather" costs of inflation are typically computed using M1 as a measure of money. Yet … minimized for a positive but moderate value of the inflation rate, thereby justifying a deviation from the Friedman rule in …
Persistent link: https://www.econbiz.de/10013127698