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Berentsen, Aleksander; Kraenzlin, Sébastien; Müller, … - 2018 - This version: February 2018

In response to the financial crisis of 2007/08, all major central banks decreased interest rates to historically low levels and created large excess reserves. Central bankers and academics currently discuss how to implement monetary policy, going forward. We find that paying interest on reserves...

Persistent link: https://www.econbiz.de/10011790398

Analysis of the Competition Between Cash and Mobile Payments in Markets with Mobile Partnerships : A Monetary Search Model Point of View

Vasselin, Françoise - 2023

In this article cash competes with mobile money (M-money) in order to settle low-value transactions in the retail trade. Only an exogenous fraction of “mobile sellers” accepts M-money and creates partnerships with buyers to reduce search frictions. The remaining part consists of...

Persistent link: https://www.econbiz.de/10014349631

Nominal Uniqueness and Money Non-neutrality in the Limit-Price Exchange Process.

Giraud, Gaël; Tsomocos, Dimitrios P. - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2010

nominal variables. Money is not neutral, either in the short-run or long-run, and a localized version of the quantity theory … towards Pareto optimal rest-points. Below this growth rate, the economy enters a (sub-optimal) liquidity trap where monetary … policy is ineffective ; above this threshold inflation rises. Finally, market liquidity, measured through the speed of real …

Persistent link: https://www.econbiz.de/10008461118

Liquidity level or liquidity risk? : a fresh look with new measures

Al-Haji, Ahmad - In: Spanish journal of finance & accounting : the official … 50 (2021) 4, pp. 395-408

Persistent link: https://www.econbiz.de/10012649516

Monetary policy in a channel system

Berentsen, Aleksander; Monnet, Cyril - 2007

Channel systems for conducting monetary policy are becoming increasingly popular. Despite their popularity, the consequences of implementing policy with a channel system are not well understood. We develop a general equilibrium framework of a channel system and investigate the optimal policy. A...

Persistent link: https://www.econbiz.de/10010264077