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Inside Money, Credit, and Investment
, 2006
"... This paper presents a monetary explanation for several business-cycle facts: (i) household and business investment are procyclical, (ii) business investment lags house-hold investment, (iii) household investment is positively correlated with M1, and (iv) household credit outstanding is positively co ..."
Abstract
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Cited by 2 (0 self)
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facilitated by credit and inside money creation is able to reconcile these real and mon-etary observations regarding the cyclical behavior of investment.
Endogenous Uncertainty and the Non-Neutrality of Money
- Economic Theory
, 2003
"... We study some implications of the Theory of Rational Beliefs to mon-etary policy. We show that monetary policy in a Rational Beliefs environ-ment can have an important effect on the characteristics of economic fluc-tuations. In Rational Beliefs Equilibria money is generically non-neutral unlike Rati ..."
Abstract
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Cited by 12 (6 self)
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We study some implications of the Theory of Rational Beliefs to mon-etary policy. We show that monetary policy in a Rational Beliefs environ-ment can have an important effect on the characteristics of economic fluc-tuations. In Rational Beliefs Equilibria money is generically non-neutral unlike
The Volatility of the Tradeable and Nontradeable Sectors: Theory and Evidence
"... (under revision, please do not quote without permission) This paper investigates the business cycle fluctuations of the trade-able and nontradeable sectors of the US economy. Then, it evaluates whether a “New Open Economy ” model having prices sticky in the pro-ducer’s currency can reproduce the obs ..."
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Cited by 1 (0 self)
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of tradeable output to mon-etary shocks. Parameter estimates are obtained by Generalised Method of Moments. JEL classification: F41; E32
MONETARY CONDITIONS INDEX FOR CROATIA
"... MCI is an indicator of the combined e¤ect of short-term interest rates and exchange rates on price level and aggregate demand. In construction of the index for Croatia, Engle-Granger co-integration method of time se-ries was used. Obtained results indicate that in the observed period mone-tary polic ..."
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policy in Croatia was mainly expansive, suggesting an easing of mon-etary conditions. However, it is necessary to bear in mind a number of limitations in the conduct of Croatian monetary policy if it is to be based on the use of the MCI. The most important constrain, that reduces the possibility
Design and Coordination of Macroprudential Policy in the Eurozone with International Banks
, 2014
"... This paper seeks to
nd the optimal design of macroprudential policies in the Eurozone by testing di¤erent levels of implementation: federal or national, in a coordinated way or not. Using Bayesian techniques, we estimate an asymmetric two-country DSGE model that allows for cross-border loan facilit ..."
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facilities where mon-etary and macroprudential policies can play a role in mitigating the risk of the nancial system. We divide the dataset of the Euro Area between core and periph-eral countries to take into account the recent structural divergences of business and credit cycles. First, introducing
Financial Reforms and Interest Rate Spreads
- in the Commercial Banking System in Malawi,” IMF Staff Papers 51
, 2004
"... This study investigates the impact of financial sector reforms on interest rate spreads in the commercial banking system in Malawi. The financial reform program com-menced in 1989 when both the Reserve Bank Act and the Banking Act were revised with the easing of entry requirements into the banking s ..."
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Cited by 20 (0 self)
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system, and indirect mon-etary policy instruments were subsequently introduced in 1990. The adoption of a floating exchange rate in 1994 marked the end of major policy reforms in the Malawian financial sector. Using alternative definitions of spreads, our analysis shows that spreads increased
The Changing Financial Environment in the New Economy
"... Monetary policy is currently conducted in an environment very different from that of just 10 to 15 years ago. While this observation seems obvious in today’s fast-paced financial world, many monetary policymakers around the world are still under the influence of mon-etary theory that was developed w ..."
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Monetary policy is currently conducted in an environment very different from that of just 10 to 15 years ago. While this observation seems obvious in today’s fast-paced financial world, many monetary policymakers around the world are still under the influence of mon-etary theory that was developed
Cheaters in the Steam Community Gaming Social Network
"... Online gaming is a multi-billion dollar industry that en-tertains a large, global population. One unfortunate phe-nomenon, however, poisons the competition and the fun: cheating. The costs of cheating span from industry-supported expenditures to detect and limit cheating, to victims ’ mon-etary loss ..."
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Online gaming is a multi-billion dollar industry that en-tertains a large, global population. One unfortunate phe-nomenon, however, poisons the competition and the fun: cheating. The costs of cheating span from industry-supported expenditures to detect and limit cheating, to victims ’ mon-etary
unknown title
"... Noname manuscript No. (will be inserted by the editor) Spatiospectral concentration in the Cartesian plane ..."
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Noname manuscript No. (will be inserted by the editor) Spatiospectral concentration in the Cartesian plane
