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The transmission mechanism of monetary policy : Evidence from the Caribbean

Ramlogan, Carlyn - In: Journal of Economic Studies 31 (2004) 5, pp. 435-447

quantity and availability of credit rather than the price of credit. The results show that the credit and exchange rate … channels are more important than the money channel in transmitting impulses from the financial sector to the real sector. The …

Persistent link: https://www.econbiz.de/10014863035

The transmission mechanism of monetary policy: Evidence from the Caribbean

Ramlogan, Carlyn - In: Journal of Economic Studies 31 (2004) October, pp. 435-447

Persistent link: https://www.econbiz.de/10004964097

On the performance and practicality of nominal GDP targeting in Germany

Domac, Ilker; Kandil, Magda - In: Journal of Economic Studies 29 (2002) 3, pp. 179-204

the design of German monetary policy. Furthermore, causality test results indicate a causal flow from money to nominal … income. However, there is no evidence of a causal flow from nominal income to various definitions of money. These results …

Persistent link: https://www.econbiz.de/10014862981

Local responses to a global monetary policy : The regional structure of financial systems

de Lucio, Juan J.; Izquierdo, Mario - In: Journal of Economic Studies 29 (2002) 3, pp. 205-221

This paper contrasts the different regional effects of an homogeneous monetary policy, and studies the local characteristics that underlie these differential responses. To this purpose, we use Spanish regional data and estimate a vector autoregression (VAR) model using seemingly unrelated...

Persistent link: https://www.econbiz.de/10014862982

Estimation of Taiwan’s binary monetary policy reaction function

Huang, Ho‐Chuan (River); Shen, Chung‐Hua - In: Journal of Economic Studies 29 (2002) 3, pp. 222-239

This paper proposes a probit regression with autocorrelated errors (PAR) to estimate the reaction function of monetary policy in Taiwan using newly constructed binary monetary indicators. We develop a practical sampling scheme via the Gibbs sampling algorithm with data augmentation to make...

Persistent link: https://www.econbiz.de/10014862983

Inflation, government expenditure and real income in the long‐run

Mallik, Girijasankar; Chowdhury, Anis - In: Journal of Economic Studies 29 (2002) 3, pp. 240-250

This paper examines the relationship between inflation and real income in Australia, Canada, Finland, New Zealand, Spain, Sweden and the UK which have adopted a “formal” policy of low or zero inflation target. Using cointegration analysis and a vector error correction model (VECM)), we find...

Persistent link: https://www.econbiz.de/10014862984

Monetary dynamics, exchange rates and parameter instability: an empirical investigation

Arize, A.C.; Malindretos, J.; Christoffersen, S. - In: Journal of Economic Studies 30 (2003) 5, pp. 493-513

rate and exchange rate. Results from testing the hypothesis of a unitary price elasticity confirm that only the broad money …This paper examines the existence and stability of both the long‐ and short‐run demand for narrow and broad money …). The study reveals the existence of a systematic long‐run relationship among real money balances, real income, interest …

Persistent link: https://www.econbiz.de/10014863013

Money demand, financial liberalization and currency substitution in Turkey

Civcir, Irfan - In: Journal of Economic Studies 30 (2003) 5, pp. 514-534

This paper investigates the empirical relationship between money, real income, interest rates, inflation and expected … exchange rate, and examines the constancy of this relationship, especially in the light of financial reform, deregulation of … financial markets and financial crises in Turkey. The estimation results show that expected exchange rate is statistically …

Persistent link: https://www.econbiz.de/10014863014

Money and Inflation – A New Macroeconomic Analysis

Bortis, Heinrich - In: Journal of Economic Studies 31 (2004) 2, pp. 158-164

Presents a review of Money and Inflation – A New Macroeconomic Analysis (Sergio Rossi (with a Foreword by Mauro …

Persistent link: https://www.econbiz.de/10014863031

A new hypothesis on the demand for money: the “accounting” motive and banks' costs[1]: November 9, 1992

Currie, Lauchlin - In: Journal of Economic Studies 31 (2004) September, pp. 390-403

Presents a paper written by Lauchlin Currie in November 1992 in which he identifies and defends the concepts of money … demand for money. The paper concludes that checking accounts possesses the further essential quality of being quantitatively … subject to control, which in turn permits a limitation of the total quantity of demand deposits and hence of money. …

Persistent link: https://www.econbiz.de/10004964092