Monetary Policy in a Channel System!
... analyzing optimal monetary policy. That is, it is taken for granted that the economic consequences of interest-rate rules do not hinge on the speci…c details of monetary policy implementation. However, our analysis reveals that a characterization of optimal policy and its implementation cannot be s ...
... analyzing optimal monetary policy. That is, it is taken for granted that the economic consequences of interest-rate rules do not hinge on the speci…c details of monetary policy implementation. However, our analysis reveals that a characterization of optimal policy and its implementation cannot be s ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: Quantifying Systemic Risk
... associated with the potential for undesirable welfare consequences, such as extreme adverse real effects. Second, the interplay between real and financial activity needs to be assessed through the implications of some theoretical model, and correspondingly quantified. Importantly, detecting macrofina ...
... associated with the potential for undesirable welfare consequences, such as extreme adverse real effects. Second, the interplay between real and financial activity needs to be assessed through the implications of some theoretical model, and correspondingly quantified. Importantly, detecting macrofina ...
The monetisation of Japan`s government debt
... Japan’s prolonged economic slowdown from the early 1990s to 2003 has led the Bank of Japan to attempt to stimulate economic growth through a huge expansion of the monetary base. Moreover, the slowdown, along with an expansionary fiscal policy, has contributed to large fiscal deficits and a balloonin ...
... Japan’s prolonged economic slowdown from the early 1990s to 2003 has led the Bank of Japan to attempt to stimulate economic growth through a huge expansion of the monetary base. Moreover, the slowdown, along with an expansionary fiscal policy, has contributed to large fiscal deficits and a balloonin ...
The value creation through Mergers and Acquisitions on bidder
... 1 Introduction ............................................................................................................ - 1 2 Literature review and hypothesis development ..................................................... - 5 2.1 Selected literature and evidence .............................. ...
... 1 Introduction ............................................................................................................ - 1 2 Literature review and hypothesis development ..................................................... - 5 2.1 Selected literature and evidence .............................. ...
How to Liberate America from Wall Street Rule
... Critics will argue that the proposed actions represent unwarranted governmental interference in the market. In reality, Wall Street institutions are themselves creations of government and would not exist without governmental intervention. Virtually every major Wall Street financial institution is a ...
... Critics will argue that the proposed actions represent unwarranted governmental interference in the market. In reality, Wall Street institutions are themselves creations of government and would not exist without governmental intervention. Virtually every major Wall Street financial institution is a ...
Hayek - currency competition and European monetary union
... The proposal put forward by Hayek, that is, full competition between private issuers of currency, is an extremely interesting concept. It relates to the debate on the viability of unregulated banking and to the literature on the historical experience with free banking.6 The basic idea seems to be as ...
... The proposal put forward by Hayek, that is, full competition between private issuers of currency, is an extremely interesting concept. It relates to the debate on the viability of unregulated banking and to the literature on the historical experience with free banking.6 The basic idea seems to be as ...
ECN 2003 MACROECONOMICS
... The control over money supply by the government is monetary policy. The Central Bank is the partially independent institution that decides on the monetary policy. Open market operations Discount rate Required reserve ratio Assoc. Prof. Yeşim Kuştepeli ...
... The control over money supply by the government is monetary policy. The Central Bank is the partially independent institution that decides on the monetary policy. Open market operations Discount rate Required reserve ratio Assoc. Prof. Yeşim Kuştepeli ...
BIS Working Papers No 118 Should banks be diversified? Evidence
... Overall, our results provide strong support for these two hypotheses. We measure focus using the Herfindahl index for a bank’s (i) non-financial and housing loan portfolio (I–HHI), (ii) overall asset sector portfolio (A–HHI), and (iii) geographical portfolio (G–HHI).9 Thus, a decrease in HHI implie ...
... Overall, our results provide strong support for these two hypotheses. We measure focus using the Herfindahl index for a bank’s (i) non-financial and housing loan portfolio (I–HHI), (ii) overall asset sector portfolio (A–HHI), and (iii) geographical portfolio (G–HHI).9 Thus, a decrease in HHI implie ...
CH 14 PDF - Cameron University
... • The central bank uses money it prints to buy real assets from the public; this gets money in circulation • People accept the paper money if they believe other people will accept it in exchange • The government often decrees that the paper money is legal tender, so that it can be used to pay off de ...
... • The central bank uses money it prints to buy real assets from the public; this gets money in circulation • People accept the paper money if they believe other people will accept it in exchange • The government often decrees that the paper money is legal tender, so that it can be used to pay off de ...
Chapter 14
... • The central bank uses money it prints to buy real assets from the public; this gets money in circulation • People accept the paper money if they believe other people will accept it in exchange • The government often decrees that the paper money is legal tender, so that it can be used to pay off de ...
... • The central bank uses money it prints to buy real assets from the public; this gets money in circulation • People accept the paper money if they believe other people will accept it in exchange • The government often decrees that the paper money is legal tender, so that it can be used to pay off de ...
PDF
... This paper argues that this wide-scale transformation is closely related to the unprecedented intervention by Central Banks and Treasuries. Strikingly, by March 2009, the Fed alone had seen its balance sheet triple in size (to $ 2.7 trillion) relative to 2007. The bailout is both monetary (nominal ...
... This paper argues that this wide-scale transformation is closely related to the unprecedented intervention by Central Banks and Treasuries. Strikingly, by March 2009, the Fed alone had seen its balance sheet triple in size (to $ 2.7 trillion) relative to 2007. The bailout is both monetary (nominal ...
Chapter 11 Money and Monetary Policy
... those banks were wiped out. The price level dropped 25% over the span of a few years. But deflation isn't just "ancient history." Japan's has also recently experienced deflation touched off by a financial crisis. In late 1989 a speculative bubble in real estate and stocks came to a sudden end. Japan ...
... those banks were wiped out. The price level dropped 25% over the span of a few years. But deflation isn't just "ancient history." Japan's has also recently experienced deflation touched off by a financial crisis. In late 1989 a speculative bubble in real estate and stocks came to a sudden end. Japan ...
PDF
... Asian crisis countries and they are followed by Thailand. The relatively slow growth has four important implications. Firstly, the cost of bank restructuring increased dramatically from around Rp 165 billion in 1999 (Cameron, 1999) to Rp. 700 billion in 2002. Meanwhile, the IBRA asset is predicted c ...
... Asian crisis countries and they are followed by Thailand. The relatively slow growth has four important implications. Firstly, the cost of bank restructuring increased dramatically from around Rp 165 billion in 1999 (Cameron, 1999) to Rp. 700 billion in 2002. Meanwhile, the IBRA asset is predicted c ...
PDF Version - Federal Reserve Bank of Minneapolis
... In order to get money and credit, there must be some monitoring—but not so much as to eliminate a role for money. About a dozen years ago, Ricardo Cavalcanti and I (see Cavalcanti and Wallace 1999) formulated such an intermediate situation by having some exogenous fraction of the population be perfe ...
... In order to get money and credit, there must be some monitoring—but not so much as to eliminate a role for money. About a dozen years ago, Ricardo Cavalcanti and I (see Cavalcanti and Wallace 1999) formulated such an intermediate situation by having some exogenous fraction of the population be perfe ...
Notes
... • In late 1998, the Bank of Japan, and the Bank of England, were removed from the direct control of the Ministry of Finance and the Chancellor and the Exchequer respectively. • In 1997 and 2003 revisions of the Bank of Korea Act, the Bank of Korea were removed from the direct and indirect control of ...
... • In late 1998, the Bank of Japan, and the Bank of England, were removed from the direct control of the Ministry of Finance and the Chancellor and the Exchequer respectively. • In 1997 and 2003 revisions of the Bank of Korea Act, the Bank of Korea were removed from the direct and indirect control of ...
recent banking sector reforms in japan : an assessment
... per cent of total income) since 1998; profitability is heavily influenced by movements in the local stock market (see the correlation between net profit and realised capital gains on Table 3.2); spreads remain low (for a comparison with the US and Germany see Bank of Japan, 2003) and have hardly cha ...
... per cent of total income) since 1998; profitability is heavily influenced by movements in the local stock market (see the correlation between net profit and realised capital gains on Table 3.2); spreads remain low (for a comparison with the US and Germany see Bank of Japan, 2003) and have hardly cha ...
INFLATION Inflation is defined as the steady and persistent rise in
... Official Cash Rate In order to control inflation, the Reserve Bank sets the basic interest rate ruling in New Zealand. This is called the Official Cash Rate. The Reserve Bank estimates what inflation will be over the next year or two, then sets the OCR at a rate which will keep the CPI within 1-3%. ...
... Official Cash Rate In order to control inflation, the Reserve Bank sets the basic interest rate ruling in New Zealand. This is called the Official Cash Rate. The Reserve Bank estimates what inflation will be over the next year or two, then sets the OCR at a rate which will keep the CPI within 1-3%. ...