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Thinking Fast and Slow about Central Bank Digital Currencies
Ozili, Peterson K - 2024
Central banks are considering the issuance of a central bank digital currency to serve as a payment tool to support economic activities. A central bank digital currency can also serve secondary purposes that are related or unrelated to the statutory objectives of a central bank which is monetary...
Persistent link: https://www.econbiz.de/10015213387
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With or Without Usura? Monetary Policy and Market Creation
igescu, iulia - 2023
Some selected examples from trade history and even more the rise of superstar firms in the early twenty first century make visible the eminence of monetary delocalization in the process of market creation. Market creation is highly concentrated in space. As a result, inside and outside money...
Persistent link: https://www.econbiz.de/10015213425
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Место России в истории финансовых инноваций (часть 2)
BLINOV, Sergey - 2020
Today, increasing the growth rate of the Russian economy is more relevant than ever. Consideration of any macroeconomic phenomena that in a historical perspective would provide an economic recovery and increase the economic power of our country is of undoubted interest. One of the important...
Persistent link: https://www.econbiz.de/10015216131
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International Financial Aggregation and Index Number Theory: A Chronological Half-Century Empirical Overview
Barnett, William A.; Chauvet, Marcelle - 2008
since monetary assets began yielding interest, the simple sum monetary aggregates have had no foundations in economic theory … misunderstandings in international monetary economics research and policy. While better data, based correctly on index number theory and … aggregation theory, now exist, the official central bank data most commonly used have not improved in most parts of the world …
Persistent link: https://www.econbiz.de/10015216155
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Real Time Changes in Monetary Policy
Chauvet, Marcelle; Tierney, Heather L. R. - 2007
This paper investigates potential changes in monetary policy over the last decades using a nonparametric vector autoregression model. In the proposed model, the conditional mean and variance are time-dependent and estimated using a nonparametric local linear method, which allows for different...
Persistent link: https://www.econbiz.de/10015217551
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International Financial Aggregation and Index Number Theory: A Chronological Half-Century Empirical Overview
Barnett, William A.; Chauvet, Marcelle - 2008
since monetary assets began yielding interest, the simple sum monetary aggregates have had no foundations in economic theory … misunderstandings in international monetary economics research and policy. While better data, based correctly on index number theory and … aggregation theory, now exist, the official central bank data most commonly used have not improved in most parts of the world …
Persistent link: https://www.econbiz.de/10015218380
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China and the Reserve Currency Question
Ryan, John - 2009
China’s concern about its U.S. Dollar reserves is being amplified by the low returns of some of China’ investments in the U.S. which leads to a broader concern about how the current reserve system basically entails China lending to the U.S. at very low interest rates. A two-currency reserve...
Persistent link: https://www.econbiz.de/10015218825
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How better monetary statistics could have signaled the financial crisis
Barnett, William A.; Chauvet, Marcelle - 2010
This paper explores the disconnect of Federal Reserve data from index number theory. A consequence could have been the …
Persistent link: https://www.econbiz.de/10015222935
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Liquidity preference as rational behaviour under uncertainty
Mierzejewski, Fernando - 2006
level of nominal income. In fact, the interest-rate- elasticity of the liquidity demand determines the effectiveness of … monetary policy, which is useless under absolute liquidity preference, i.e. when the money demand is perfectly elastic. An … actuarial approach is developed in this paper for dealing with random income. Assuming investors face liquidity constraints, a …
Persistent link: https://www.econbiz.de/10015224893
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After ten years the Russian crisis how IMF intervention might be evaluated?
Sulimierska, Malgorzata - 2011
The ongoing global financial crisis has become prominently visible since September 2008. This crisis affected the whole world and enhanced the importance of policy implementation to mitigate financial crises in future. Many academics blamed insufficient domestic regulation as the reason of...
Persistent link: https://www.econbiz.de/10015226903