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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
supply determination process is endogenous with an unstable money multiplier for Japan for M1. However, this endogeneity in …, Yu and Greenwood-Nimmo, (2014) is applied. This model allows us to examine the endogeneity and exogeneity of the money …This study re-investigates the money supply determination process for Japan. The methodology of this study, which …
Persistent link: https://www.econbiz.de/10014558518
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Targeting inflation with a prominent role for money
Söderström, Ulf - 2001 - This version: June 2001
This paper demonstrates how a target for money growth can be beneficial for an inflation targeting central bank acting under discretion. Because the growth rate of money is closely related to the change in the interest rate and he growth of real output, delegating a money growth target to the...
Persistent link: https://www.econbiz.de/10011583901
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Two Papers on the Volatility of Money Stock Targeting
Tinsley, Peter A.; Von zur Mühlen, Peter; Fries, Gerhard - 2022
This paper introduces an empirical measure of the cost of allocating money market volatility between the money stock and the Federal funds rate, the principal purpose being to devise a framework for data-based measures of the short-run implied by alternative operating procedures
Persistent link: https://www.econbiz.de/10013403837
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A Monetary Base Analysis and Control Model
Gursel, Haluk Ferden - 2019
This report is one of the first studies discussing monetary base analysis and control model, a concept even today is alive and more developed by, for example, by IMF to use its analysis. The study presents monetary base approach to control of money flows and the links between monetary base,...
Persistent link: https://www.econbiz.de/10012892419
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An Optimal Interest Rate Rule with Information from Money and Auction Markets
Von zur Mühlen, Peter - 2022
For an economy characterized by neo-Keynesian wage rigidity, an optimal open market rule is derived based on financial market information, including auction price behavior. Simulations of a small model of the United States--estimated via full information maximum likelihood together with a...
Persistent link: https://www.econbiz.de/10013403657
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Impacts of Money Supply on Income and Prices in the Sudan : Impacts of Monetary Policies on the Performance of the Sudan Economy
Mohamed, Issam A.W. - 2020
Monetary policies are very important in any economy. However, they are dominantly hectic and characterized with frequent changes in developing countries. In Sudan, there were many changes during the past three decades, mostly were not compatible with coherent economic logic. The country's...
Persistent link: https://www.econbiz.de/10012857118
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Constructing divisia monetary aggregates for Singapore
Barnett, William A.; Nguyen, Van H. - In: Journal of risk and financial management : JRFM 14 (2021) 8, pp. 1-15
Since Barnett derived the user cost price of money, the economic theory of monetary services aggregation has been … developed and extended into a field of its own with solid foundations in microeconomic theory. Divisia monetary aggregates have … microeconomic aggregation or index number theory. However, most central banks in the world, including that of Singapore, the …
Persistent link: https://www.econbiz.de/10012626752
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Excess liquidity and the usefulness of the money multiplier
Berk, Jan Marc; End, Jan-Willem van den - In: Credit and capital markets : Kredit und Kapital 55 (2022) 4, pp. 457-488
We model the behaviour of banks as a main driver of the changing components of the money multiplier (MM). So we provide …
Persistent link: https://www.econbiz.de/10014518597
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What Should a Central Bank (Not) Do?
Steil, Benn - 2013
The financial crisis that began unfurling in 2008 has led to the refashioning of the model central bank governor along the lines of Churchillian war leader, willing to try anything with the money he conjures to restore economic growth. This raises important questions as to what limits, if any,...
Persistent link: https://www.econbiz.de/10013083914
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Bond Markets and Unconventional Monetary Policy
Buraschi, Andrea - 2015
This paper is a comprehensive study of the discussion and empirical evidence about the impact of unconventional monetary policy on bond markets. The 2007/2008 Financial Crisis marks the beginning of a new monetary policy regime in which central banks engaged in different types of large scale...
Persistent link: https://www.econbiz.de/10013020631