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Interest Rates, Exchange Rates and Macroeconomic Performance
Erdoğan, Seyfettin; Karacan, Rıdvan; Alpaslan, Barış - Volkswirtschaftliche Fakultät, … - 2013
In recent years, there has been a renewed interest in the fact that a change in exchange rates has an impact on main economic indicators and therefore on macroeconomic performance. The aim of this paper is to study the implications of the relationship between exchange rates and changes in...
Persistent link: https://www.econbiz.de/10011260687
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How better monetary statistics could have signaled the financial crisis
Barnett, William A.; Chauvet, Marcelle - Volkswirtschaftliche Fakultät, … - 2010
This paper explores the disconnect of Federal Reserve data from index number theory. A consequence could have been the …
Persistent link: https://www.econbiz.de/10008614991
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The theoretical framework of monetary policy revisited
Balfoussia, Hiona; Brissimis, Sophocles; Delis, Manthos D - Volkswirtschaftliche Fakultät, … - 2011
the key properties of monetarist theory for the long run, i.e. monetary neutrality with respect to real output and the …
Persistent link: https://www.econbiz.de/10009226956
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Tracing the Liquidity Effects on Bank Stability in Barbados
Guy, Kester; Lowe, Shane - Volkswirtschaftliche Fakultät, … - 2012
This paper provides a micro-economic approach to evaluating bank stability in the face of adverse liquidity conditions. Specifically, it examines the potential for systemic risk as a result of liquidity shocks on each bank. According to Nier et al., (2008) systemic risk results when the failure...
Persistent link: https://www.econbiz.de/10011109463
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The joint services of money and credit
Barnett, William A. - Volkswirtschaftliche Fakultät, … - 2014
credit card balances, to assets, such as money. But economic aggregation theory and index number theory are based on … microeconomic theory, not accounting, and measure service flows. We derive theory needed to measure the joint services of credit …
Persistent link: https://www.econbiz.de/10011113973
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ECB Policy Response to the Euro/US Dollar Exchange Rate
Demir, Ishak - Volkswirtschaftliche Fakultät, … - 2012
The exchange rate is an important part of transmission mechanism in the determination of monetary policy because movements in the exchange rate have significant effect on the macroeconomy. Measuring the reaction of monetary policy to the movements in exchange rate has some difficulties due to...
Persistent link: https://www.econbiz.de/10009493276
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After ten years the Russian crisis how IMF intervention might be evaluated?
Sulimierska, Malgorzata - Volkswirtschaftliche Fakultät, … - 2011
The ongoing global financial crisis has become prominently visible since September 2008. This crisis affected the whole world and enhanced the importance of policy implementation to mitigate financial crises in future. Many academics blamed insufficient domestic regulation as the reason of...
Persistent link: https://www.econbiz.de/10009643757
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China and the Reserve Currency Question
Ryan, John - Volkswirtschaftliche Fakultät, … - 2009
China’s concern about its U.S. Dollar reserves is being amplified by the low returns of some of China’ investments in the U.S. which leads to a broader concern about how the current reserve system basically entails China lending to the U.S. at very low interest rates. A two-currency reserve...
Persistent link: https://www.econbiz.de/10008567957
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Real Time Changes in Monetary Policy
Chauvet, Marcelle; Tierney, Heather L. R. - Volkswirtschaftliche Fakultät, … - 2007
This paper investigates potential changes in monetary policy over the last decades using a nonparametric vector autoregression model. In the proposed model, the conditional mean and variance are time-dependent and estimated using a nonparametric local linear method, which allows for different...
Persistent link: https://www.econbiz.de/10005039957
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International Financial Aggregation and Index Number Theory: A Chronological Half-Century Empirical Overview
Barnett, William A.; Chauvet, Marcelle - Volkswirtschaftliche Fakultät, … - 2008
since monetary assets began yielding interest, the simple sum monetary aggregates have had no foundations in economic theory … misunderstandings in international monetary economics research and policy. While better data, based correctly on index number theory and … aggregation theory, now exist, the official central bank data most commonly used have not improved in most parts of the world …
Persistent link: https://www.econbiz.de/10005621844