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u0093Bond Market Inflation Expectation and Longer-term Trends in Broad Monetary Growth and Inflation in Industrial Countries, 1880-2001u0094 by William G. Dewald, Professor of Economics Emeritus, Ohio State University and Former Director of Research, Federal Reserve Bank of St. Louis. Annual...
Persistent link: https://www.econbiz.de/10009635923
The role of money in society has been a controversial topic in economic theory over many years. Particular attention … has been devoted to the analysis whether there should be competition in the supply of money, or whether this is best left … today we have competition between issuers of money, namely in the international context, with electronic money, and in large …
Persistent link: https://www.econbiz.de/10009635956
monetary base rule which responds only to the money demand shocks in the model. We solve the model with this counterfactual …
Persistent link: https://www.econbiz.de/10009636549
We analyse the effects of money growth within a standard New Keynesian framework and show that the interaction between … staggered nominal contracts and money growth leads to a long-run trade-off between output and money growth. We explore the …
Persistent link: https://www.econbiz.de/10009639472
The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...
Persistent link: https://www.econbiz.de/10009640286
Global monetary conditions have often been cited as a driving factor of commodity prices. This paper investigates the empirical relationship between US monetary policy and commodity prices by means of a standard VAR system, commonly used in analysing the effects of monetary policy shocks. The...
Persistent link: https://www.econbiz.de/10009640308
This paper conducts a comparative analysis of the performances of the forward guidance strategies adopted by the Reserve Bank of New Zealand, the Norges Bank and the Riksbank, with the aim to gauge whether forward guidance via publication of an own interest rate path enhances a central bank’s...
Persistent link: https://www.econbiz.de/10009640489
The European Securities and Markets Authority (ESMA) has published its Annual Report 2013 (Report) on credit rating agencies (CRAs) in the European Union (EU). The Report also outlines ESMA’s supervisory work plan for this year.ESMA has found that CRAs continue to progress in how they comply...
Persistent link: https://www.econbiz.de/10010335230
The updated Q&A provides clarifications regarding the publication of sovereign ratings and conflict of interests concerning investments in CRAs.The purpose of this Q&A is to provide clarity on the requirements and practice in the application of the CRA Regulation and in particular, the CRA 3...
Persistent link: https://www.econbiz.de/10010368098
Trading Platforms (TPs), which have automated trading members, have been the focus of increased attention in recent years. ESMA therefore decided in 2013 to conduct a peer review on the Guidelines on systems and controls in an automated trading environment for trading platforms, ESMA 2012/122...
Persistent link: https://www.econbiz.de/10010507107