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Homeownership, informality and the transmission of monetary policy
Elgin, Ceyhun; Uras, Burak - 2014
Persistent link: https://www.econbiz.de/10011283296
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Homeownership, informality and the transmission of monetary policy
Elgin, Ceyhun; Uras, Burak - In: Journal of banking & finance 49 (2014), pp. 160-168
Persistent link: https://www.econbiz.de/10010508053
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Homeownership, Informality and the Transmission of Monetary Policy
Elgin, Ceyhun - 2014
argue that the rate of inflation is important in explaining the nexus between informality and homeownership rates … economize on their short-term cash usage and avoid periodic rental payments when (i) informality is associated with constrained …
Persistent link: https://www.econbiz.de/10013048297
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Money, inflation, and unemployment in the presence of informality
Lahcen, Mohammed Aït - 2017
This paper studies the impact of informality on the long-run relationship between inflation and unemployment in … developing economies. I present a dynamic general equilibrium model with informality in both labor and goods markets and where … informality when considering the inflation-unemployment trade-off in the conduct of monetary policy. …
Persistent link: https://www.econbiz.de/10011969183
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Money, Inflation, and Unemployment in the Presence of Informality
Ait Lahcen, Mohammed - 2018
This paper studies the impact of informality on the long-run relationship between inflation and unemployment in … developing economies. I present a dynamic general equilibrium model with informality in both labor and goods markets and where … informality when considering the inflation-unemployment trade-off in the conduct of monetary policy. …
Persistent link: https://www.econbiz.de/10011892083
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Money, inflation, and unemployment in the presence of informality
Lahcen, Mohammed Aït - 2017
This paper studies the impact of informality on the long-run relationship between inflation and unemployment in … developing economies. I present a dynamic general equilibrium model with informality in both labor and goods markets and where … informality when considering the inflation-unemployment trade-off in the conduct of monetary policy. …
Persistent link: https://www.econbiz.de/10011790433
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The Demand for Money, Near-Money, and Treasury Bonds
Krishnamurthy, Arvind; Li, Wenhao - 2021
Bank-created money, shadow-bank money, and Treasury bonds all satisfy investor's demand for a liquid transaction medium and safe store of value. We measure the quantity of these three forms of liquidity and their corresponding liquidity premium over a sample from 1926 to 2016. We empirically...
Persistent link: https://www.econbiz.de/10013220597
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The macroeconomics of liquidity in financial intermediation
Porcellacchia, Davide; Sheedy, Kevin D. - 2024
In financial crises, the premium on liquid assets such as US Treasuries increases alongside credit spreads. This paper explains the link between the liquidity premium and spreads. We present a theory of endogenous bank fragility arising from a coordination friction among bank creditors. The...
Persistent link: https://www.econbiz.de/10014528265
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US Monetary Policy Spillovers and Spillbacks
Thomas, Lina - 2023
I study spillovers of US monetary policy to the rest of the world, as well as spillbacks to the US economy in an empirical multi-country model over time. Within the multilateral framework, I distinguish the bilateral effect from the network effects that arise from interactions among recipient...
Persistent link: https://www.econbiz.de/10014256990
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General equilibrium with monopolistic firms and occasionally binding cash-in-advance constraints
Dixon, Huw; Pourpourides, Panayiotis M. - 2010
We show a simple way to introduce monopolistic competition in a general equilibrium model where prices are fully .exible, the velocity of money is variable and cash-in-advance (CIA) constraints occasionally bind.We establish the conditions under which money has real effects and demonstrate that...
Persistent link: https://www.econbiz.de/10010288784