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Bond market inflation expectations and longer-term trends in broad monetary growth and inflation in industrial countries, 1880-2001

Dewald, William G. - 2003

Persistent link: https://www.econbiz.de/10011604299

The quantity theory of money, 1870-2020

Jung, Alexander - 2024

This study re-assesses the validity of the quantity theory of money (QTM) for the very long sample, 1870 to 2020, for … cointegration tests show that the long-run relationship between excess money growth and inflation holds if longer runs of data are … predicted by Milton Friedman. For the full sample, the average speed of adjustment from excess money growth to inflation in …

Persistent link: https://www.econbiz.de/10014565196

The real effects of money growth in dynamic general equilibrium

Graham, Liam; Snower, Dennis J. - 2004

We analyse the effects of money growth within a standard New Keynesian framework and show that the interaction between … staggered nominal contracts and money growth leads to a long-run trade-off between output and money growth. We explore the …

Persistent link: https://www.econbiz.de/10011604458

The ECB’s non-standard monetary policy measures: the role of institutional factors and financial structure

Cour-Thimann, Philippine; Winkler, Bernhard - 2013

This paper aims to make two contributions: to review the ECB’s non-standard monetary policy measures in response to the financial and sovereign debt crisis against the background of the institutional framework and financial structure of the euro area; and to interpret this response from a...

Persistent link: https://www.econbiz.de/10011605573

News and noise in the housing market

Gazzani, Andrea - 2016

Housing prices are subject to boom and bust episodes with long-lasting deviation from fundamentals. By considering a present value housing price model under noisy information, I study the macroeconomic implications of movements in housing prices related (news) and not related (noise) to future...

Persistent link: https://www.econbiz.de/10011605978

Credit and the natural rate of interest.

De Fiore, Fiorella; Tristani, Oreste - 2008

We analyze the properties of the natural rate of interest in an economy where nominal debt contracts generate a spread between loan rates and the policy interest rate. In our model, monetary policy has real effects in the flexible-price equilibrium, because it affects the credit spread. Relying...

Persistent link: https://www.econbiz.de/10011604935

News and Noise in the Housing Market

Gazzani, Andrea Giovanni - 2016

Persistent link: https://www.econbiz.de/10012986653

The ECB’s Non-Standard Monetary Policy Measures : The Role of Institutional Factors and Financial Structure

Cour-Thimann, Philippine - 2013

This paper aims to make two contributions: to review the ECB's non-standard monetary policy measures in response to the financial and sovereign debt crisis against the background of the institutional framework and financial structure of the euro area; and to interpret this response from a...

Persistent link: https://www.econbiz.de/10013084548

Credit and the Natural Rate of Interest

De Fiore, Fiorella; Tristani, Oreste - 2021

We analyze the properties of the natural rate of interest in an economy where nominal debt contracts generate a spread between loan rates and the policy interest rate. In our model, monetary policy has real effect in the flexible-price equilibrium, because it affects the credit spread. Relying...

Persistent link: https://www.econbiz.de/10013316546

Money and payments: a modern perspective

Holthausen, Cornelia; Monnet, Cyril - 2003

The role of money in society has been a controversial topic in economic theory over many years. Particular attention … has been devoted to the analysis whether there should be competition in the supply of money, or whether this is best left … today we have competition between issuers of money, namely in the international context, with electronic money, and in large …

Persistent link: https://www.econbiz.de/10011604291