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Housing Price and Household Debt Interactions in Sweden

Turk-Ariss, Rima - 2016

prices and household debt using a three-equation model, finding that household borrowing impacts housing prices in the short …Sweden is experiencing double-digit housing price gains alongside rising household debt. A common interpretation is … that mortgage lending boosted by expansionary monetary policy is driving up house prices. But theory suggests the value of …

Persistent link: https://www.econbiz.de/10012996083

Cash Use Across Countries and the Demand for Central Bank Digital Currency

Tanai Khiaonarong - 2019

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card-not better. Demand for digital currency will thus be weak...

Persistent link: https://www.econbiz.de/10012889147

Some Alternative Monetary Facts

Stella, Peter; Kumar, Manmohan S.; Bhargava, Apoorv - 2021

In this paper, we discuss the modern history of monetarism and its alternatives, as well as the changing empirical relationship of various measures of money and inflation. After demonstrating that previous naïve correlations between money and inflation as established in the 20th century...

Persistent link: https://www.econbiz.de/10013243075

Monetization in Low- and Middle-Income Countries

McLoughlin, Cameron - 2012

The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization -- measured by the ratio of broad money to nominal GDP...

Persistent link: https://www.econbiz.de/10013102201

China's Monetary Policy and Interest Rate Liberalization : Lessons from International Experiences

Liao, Wei - 2014

China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of progress in financial sector reforms that, for example, have resulted in significant...

Persistent link: https://www.econbiz.de/10013053041

Is High Debt Constraining Monetary Policy? Evidence from Inflation Expectations

Brandao Marques, Luis; Casiraghi, Marco; Gelos, Gaston; … - 2023

This paper examines whether high government debt levels pose a challenge to containing inflation. It does so by assessing the impact of government debt surprises on inflation expectations in advanced- and emerging market economies. It finds that debt surprises raise long-term inflation...

Persistent link: https://www.econbiz.de/10014353543

Monetary Policy Implications Central Bank Digital Currencies : Perspectives on Jurisdictions with Conventional and Islamic Banking Systems

Lukonga, Inutu - 2023

Central bank digital currencies (CBDCs) promise many benefits but, if not well designed, they could have undesired consequences, including for monetary policy. Issuing an unremunerated CBDC or a wholesale CBDC does not change the objectives of monetary policy or the operational framework for...

Persistent link: https://www.econbiz.de/10014355809

Digital Money and Central Banks Balance Sheet

Singh, Manmohan; Armas, Adrian - 2022

Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type...

Persistent link: https://www.econbiz.de/10014236308

Instant Payments : Regulatory Innovation and Payment Substitution Across Countries

Khiaonarong, Tanai; Humphrey, David - 2022

Instant, or fast, payments are credit transfers completed and settled within seconds or minutes. They have low costs, reduce payment risk, and have significantly replaced the use of cash, cards, or check and direct debit payments. We note the role played by regulators in promoting instant...

Persistent link: https://www.econbiz.de/10014237875

A Multi-Currency Exchange and Contracting Platform

Adrian, Tobias; Grinberg, Federico; Mancini Griffoli, … - 2022

Cross-border payments can be slow, expensive, and risky. They are intermediated by counterparties in different jurisdictions which rely on costly trusted relationships to offset the lack of a common settlement asset as well as common rules and governance. In this paper, we present a vision for a...

Persistent link: https://www.econbiz.de/10014241937

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