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Non-Ricardian borrowers and mortgage type : implications for monetary policy leaning against the wind

Pietrzak, Marcin - In: Journal of central banking theory and practice 13 (2024) 2, pp. 153-185

Leaning against the wind of credit booms is a monetary policy that is tighter than what is consistent with standard inflation targeting. This way the central bank tries to address excessive household debt. While the merits of such policy have been analysed, I argue that there are two dimensions...

Persistent link: https://www.econbiz.de/10014581561

Macroeconomic determinants of MIR interest rate margin in the Euro area

Anastasiou, Dimitrios - In: Journal of central banking theory and practice 10 (2021) 1, pp. 39-53

This study aims to examine the determinants of the MIR interest rate in the Euro area for the period 2003Q1-2015Q3. By employing Fixed and Random Effects as econometric methodologies, I examine whether the MIR rate is affected by the following macroeconomic factors: unemployment rate, inflation...

Persistent link: https://www.econbiz.de/10012548930

The quality of public finance in the countries of South-East Europe

Vukčević, Ivana; Jovović, Radislav - In: Journal of central banking theory and practice 9 (2020) 1, pp. 169-184

The subject of this research is to analyze a number of factors that impact the quality of public finances in the selected post-socialist South East countries (SEE). In the theoretical part of the paper we have selected and analyzed the factors (variables). The following key factors of influence...

Persistent link: https://www.econbiz.de/10012167229

Cashless society : the future of money or a utopia?

Fabris, Nikola - In: Journal of central banking theory and practice 8 (2019) 1, pp. 53-66

In recent years we have witnessed a growing trend in cashless transactions as well as products and services sold exclusively in this way. Also, after the onset of the global financial crisis, private crypto currencies appeared that have raised some concerns. All of these changes beg the question...

Persistent link: https://www.econbiz.de/10011965169

Uncertainty and effectiveness of monetary policy : a bayesian Markov switching-VAR analysis

Nain, Zulquar; Kamaiah, Bandi - In: Journal of central banking theory and practice 9 (2020), pp. 237-265

There is a growing body of literature examining the effectiveness of the monetary policy on the macroeconomy in different contexts for developed and developing countries. However, lately, especially after the GFC, the focus of research shifted to examine the role of uncertainty in economic...

Persistent link: https://www.econbiz.de/10012306714

The relationship between inflation and interest rates in the UK : the nonlinear ARDL approach

Gocer, Ismet; Ongan, Serdar - In: Journal of central banking theory and practice 9 (2020) 3, pp. 77-86

This study reconsiders the Fisher effect for the UK from a different methodological perspective. To this aim, the … rates. Hence, it enables us to examine the Fisher effect in terms of increases and decreases in inflation separately. The … empirical findings support asymmetrically partial Fisher effects for the UK in the long-run only for the first period …

Persistent link: https://www.econbiz.de/10012306785

Impact of reserve option mechanism on exchange rate volatility during the FED's tapering period

Demirbas, Erkan; Can, Nurettin - In: Journal of central banking theory and practice 11 (2022) 3, pp. 155-178

This study investigates the effectiveness of ROM. We conducted the GARCH (1,1) Model to determine whether ROM contributed to decreasing the volatility of USD/TL exchange rate for the period 2013-2014. We construct four Models where four different variables are separately used that represent the...

Persistent link: https://www.econbiz.de/10013407510

The quantity theory of money, quantitative easing and the missing inflation phenomenon

Moosa, Imad A.; Al-Saad, Khalid; Khatatbeh, Ibrahim N. - In: Journal of central banking theory and practice 13 (2024) 2, pp. 71-88

Several explanations have been put forward for the observation that massive inflation has not appeared as a result of the explosive monetary growth generated by quantitative easing that was in 2008. Several plausible explanations have been put forward for this observation, but none of them can...

Persistent link: https://www.econbiz.de/10014581554

Monetary facts or monetarist facts? : a re-examination

Khan, Muhammad Azam; Rashid, Salim - In: Journal of central banking theory and practice 14 (2025) 1, pp. 183-214

The Quantity Theory of Money claims to provide one of the few long-run guides to economic policy by providing specific numbers to characterise the correlation between money growth and inflation. Acceptance of the Quantity Theory has been greatly helped by the claim, propounded most effectively...

Persistent link: https://www.econbiz.de/10015376957

Essay on monetary policy and economic growth

Dimitrijević, Bojan; Lovre, Ivan - In: Journal of central banking theory and practice 2 (2013) 1, pp. 111-138

Persistent link: https://www.econbiz.de/10009717094