Search Results - subject:"Monetary aggregates"

Nominal Income Targeting; A Critical Evaluation

Argy, Victor E. - International Monetary Fund (IMF) - 1991

This paper evaluates the proposal that government authorities ought to target nominal income. It begins by viewing the literature in some detail. It then undertakes a theoretical analysis of the proposal first for the small country and next for the large country. There is then a general...

Persistent link: https://www.econbiz.de/10005825863

Financial Sector Reforms and Monetary Policy

International Monetary Fund (IMF); International … - 1991

In recent years a number of countries have undertaken far-reaching reforms of their financial sectors. Generally speaking, financial sector reforms aim at achieving greater flexibility of interest rates, an enhanced role for market forces in credit allocation, increased independence for the...

Persistent link: https://www.econbiz.de/10005826634

News-Magazine Monetarism

Nelson, Edward - C.E.P.R. Discussion Papers - 2002

This Paper examines some recent monetary policy debates, in light of commentary on those issues contained in some of the work of Milton Friedman. The specific aspect of Friedman’s work considered here is the commentary on monetary policy in his Newsweek magazine columns from 1966 to 1984. My...

Persistent link: https://www.econbiz.de/10005124018

Financial Sector Reform and Central Banking in Centrally Planned Economies

International Monetary Fund (IMF); International … - 1990

This paper reviews key areas of central banking reform in a sample of centrally planned economies undergoing transition to market-based systems. The discussion draws mainly on the experiences of four countries, Hungary, Poland, Czechoslovakia, and China. Significant efforts have been made, or...

Persistent link: https://www.econbiz.de/10005826233

On Monetary Analysis of Derivatives

Savona, Paolo; Maccario, Aurelio; Oldani, Chiara - In: Open Economies Review 11 (2000) 1, pp. 149-175

Financial derivatives are products whose price is linked with that of an underlying asset. The relationship between these two prices has been studied in depth, and the following conclusions have been reached: (1) the volatility of underlying asset's price decreases after the introduction of...

Persistent link: https://www.econbiz.de/10005715023

Alternatives to the Central Bank in the Developing World

Collyns, Charles - International Monetary Fund (IMF) - 1983

Persistent link: https://www.econbiz.de/10005590912

A macroeconomic view of Eurodollar market expansion after 1973

Galy, Michel - Volkswirtschaftliche Fakultät, … - 1982

This paper analyzes the Eurodollar market, investigating the reasons for its expansion after 1973, and the consequences for monetary policy. In the first part of the paper, the issue of credit and money creation by offshore banks is considered. The nature of the liquidity creation process is...

Persistent link: https://www.econbiz.de/10011189004

Monetary Aggregates and Monetary Policy

Rasche, Robert H.

At a quick glance, the behavior of various monetary aggregates in the recent past is quite bewildering. Since the … behavior of the various monetary aggregates has provoked recent discussions of monetary policy that are reminiscent of and … appear to closely parallel the debate over the behavior of the narrowly defined monetary aggregates approximately a decade …

Persistent link: https://www.econbiz.de/10009483005

Choosing a Monetary Aggregate: Another Look

Poole, William

The Shadow Open Market Committee has traditionally summarized its monetary-policy advice in a recommended rate of growth of the monetary base. However, since the Shadow Open Market Committee meeting in the spring of 1991, our recommendation has deemphasized the base because rapid growth in...

Persistent link: https://www.econbiz.de/10009483006

Where is the Mystery in the Behavior of the Monetary Aggregates?

Rasche, Robert H.

This position paper is divided into three parts. In the first part an analysis is present indicating the extent to which various forces have affected the growth of M1 since last November. (At the time of this writing August data are not yet available. I expect that the analysis can be updated to...

Persistent link: https://www.econbiz.de/10009483014