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The Quantity Theory of Money and Friedmanian Monetary Policy: An Empirical Investigation

Hillinger, Claude; Süssmuth, Bernd; Sunder, Marco - CESifo - 2012

We introduce an approach for the empirical study of the quantity theory of money (QTM) that is novel both with respect to the specific steps taken as well as the general methodology employed. Empirical studies of the QTM have focused directly on the relationship between the rate of change of the...

Persistent link: https://www.econbiz.de/10009653372

Residential Mobility of the European Elderly

Angelini, Viola; Laferrère, Anne - CESifo - 2010

With the ageing of the European population, the housing choices of the elderly will have consequences on the whole … housing market. In this paper we use data from the first two waves of the Survey of Health, Ageing and Retirement in Europe …

Persistent link: https://www.econbiz.de/10008833901

Language as a Renewable Resource: Import, Dissipation, and Absorption of Innovations

Wickström, Bengt-Arne - CESifo - 2012

The structural stability of different languages subject to the import of external elements is analyzed. We focus on the temporal side of the different processes interacting to produce a change in the structure of the language. That is, the rate of import and dissipation of new elements is seen...

Persistent link: https://www.econbiz.de/10010570048

The Effect of Terrorist Incidents on Capital Flows

Filer, Randall; Stanišic, Dragana - CESifo - 2012

Current literature shows a significant negative impact of terrorism on countries economies. We explore this relationship in more detail. Using an unbalanced panel of over 160 countries for up to 25 years and the Global Terrorism Database (GTD) we show a decrease in FDI as a consequence of...

Persistent link: https://www.econbiz.de/10010593134

Collateral and its Substitutes in Emerging Markets' Lending

Menkhoff, Lukas; Neuberger, Doris; Rungruxsirivorn, Ornsiri - CESifo - 2011

-free loans through third-party guarantees and relationship lending, but also through modifying loan terms, such as reducing loan … relationship lending and they are more often used by formal financial institutions. …

Persistent link: https://www.econbiz.de/10009320789

The Role of Monetary Aggregates in the Policy Analysis of the Swiss National Bank

Kirchgässner, Gebhard; Wolters, Jürgen - CESifo - 2010

Using Swiss data from 1983 to 2008, this paper investigates whether growth rates of the different measures of the quantity of money and or excess money can be used to forecast inflation. After a preliminary data analysis, money demand relations are specified, estimated and tested. Then,...

Persistent link: https://www.econbiz.de/10008533982

The Quantity Theory of Money: An Assessment of its Real Linchpin Prediction

Hillinger, Claude; Süßmuth, Bernd - CESifo - 2010

This study approaches the Quantity Theory of Money at a conceptual level, asking how it can be most reasonably interpreted and quantitatively assessed. The resulting approach is straightforward. Unlike studies relying on other methods we find evidence of its linchpin prediction that is not...

Persistent link: https://www.econbiz.de/10008534035

Income Taxes, Property Values, and Migration

Glazer, Amihai; Kanniainen, Vesa; Poutvaara, Panu - CESifo - 2003

We consider taxation by a Leviathan government and by a utilitarian government in the presence of heterogeneous locations within a country, when migration from one country to another is and is not possible. In a closed economy, a utilitarian government may transfer income from the poor to the...

Persistent link: https://www.econbiz.de/10005406374

Supply Restrictions, Subprime Lending and Regional US House Prices

Anundsen, André Kallåk; Heebøll, Christian - CESifo - 2015

Statistical Areas, we estimate a simultaneous boom-bust system for house prices, housing supply and subprime lending. The model …With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions … contribute to dilute the positive relationship between the total quantity response and the supply elasticity during a housing …

Persistent link: https://www.econbiz.de/10011196566

Income Taxes, Sorting, and the Costs of Housing: Evidence from Municipal Boundaries in Switzerland

Basten, Christoph; Ehrlich, Maximilian von; Lassmann, Andrea - CESifo - 2014

access to public goods and thereby reduces the estimated response of housing prices by one half compared to conventional …

Persistent link: https://www.econbiz.de/10010812495