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in economic activity. This paper studies aggregate real money balances as leader indicator of the economic activity based …
Persistent link: https://www.econbiz.de/10005730144
An important challenge in monetary economics is the development of an endogenous theory of money, which introduces … money in a natural way and not as an external imposition. This paper reviews different approaches that have been used in …
Persistent link: https://www.econbiz.de/10005697803
[Abstract in English is missing]
Persistent link: https://www.econbiz.de/10015216771
Resumen: No hay evidencia sustancial de que la pandemia de Covid-19 represente un cambio estructural hacia una economía sin efectivo (cashless) en el sector de pagos minoristas. En el corto plazo, los consumidores aumentaron su volumen de pagos digitales y sin contacto (contactless) como...
Persistent link: https://www.econbiz.de/10015255758
Persistent link: https://www.econbiz.de/10005510144
La literatura referente a los modelos de inflación y política monetaria anti-inflacionaria del tipo denominado Inflation Targeting (IT) ha reforzado una opinión popular: que la inflación tiene poca o ninguna relación con el aumento de la cantidad de dinero. Esta opinión es contraria a una...
Persistent link: https://www.econbiz.de/10005489374
existence of involuntary unemployment is based on the organization of trades. Money plays a critical role in coordinating …
Persistent link: https://www.econbiz.de/10005464617
This work examines the difficulties and formidable challenges faced by monetary authorities to control the behavior of monetary aggregates in an open economy dependent of an exportable natural resource such as Venezuela. The work not only introduces analytical arguments but also provides some...
Persistent link: https://www.econbiz.de/10004965221
This article presents a model of real exchange rate using a neokeynesian approach, which is estimated with econometric … between real exchange rate and macroeconomic fundamentals. It shows that the amount of appreciation and depreciation of the … real exchange rate is determined by changes in terms of trade, openness of the economy, capital flows and acceleration of …
Persistent link: https://www.econbiz.de/10005817058
How does the yield curve incorporate expectations on the Colombian future short-term interest rates? Two theories have been proposed to explain it: the Expectation Hypothesis and the Liquidity Preference Hypothesis. This paper tests both theories for the TES yield curve as well as for the CDT...
Persistent link: https://www.econbiz.de/10005606925